Texas Mortgage Rates
Mortgage rates in Texas - Lone Star Financing
Today's Mortgage Rates
30 Year Fixed
Low payments that never change
30 Year FHA
Stable monthly payment with less money down
30 Year VA
100% loans to Conforming Jumbo Options available
30 Year USDA
100% financing rural properties
About Texas Mortgage Rates
What is a 30-Year fixed rate mortgage?
What is a 20-Year fixed rate mortgage?
A 20-year fixed-rate mortgage is a home loan that has a repayment period of 20 years. It has an interest rate that does not change throughout the life of the loan.
What is a 15-Year fixed rate mortgage?
A 15-year fixed-rate mortgage is a home loan that has a repayment period of 15 years. It has an interest rate that does not change throughout the life of the loan.
Texas Mortgage Rates - LOW RATES & LOW FEES
- Texas conventional mortgages are considered the industry standard, and they impose qualification requirements. Generally, you’ll need a minimum credit score of 620 and a DTI ratio less than 45 percent. If you make a down payment of less than 20 percent, you’ll need to pay PMI, as well.
- Texas FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to secure a loan insured by the Federal Housing Administration (FHA). A credit score of at least 580 can help you secure a Texas FHA loan with a down payment of just 3.5 percent. You can still get an FHA loan with a credit score of 500, but that requires a 10 percent down payment. With an FHA loan, you’ll typically need a DTI between 31 percent to 41 percent. FHA loans generally have lower mortgage rates than conventional loans.
- Texas VA loans: If you’re a veteran or active duty member of the military, you may qualify for a mortgage backed by the Department of Veterans Affairs (VA). A Texas VA home loan doesn’t require a down payment or private mortgage insurance (PMI), but you do need to pay a funding fee. VA home loans also come with better mortgage rates and terms.
Low mortgage rates in Texas – Direct lender with in-house underwriting – Close Fast