Texas Mortgage Rates

Mortgage rates in Texas - Lone Star Financing

Today's Mortgage Rates

30 YEAR Fixed Mortgage Rates
Conventional Rates

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30 Year Fixed

Low payments that never change

FHA Rates

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30 Year FHA

Stable monthly payment with less money down

VA Rates

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30 Year VA

100% loans to Conforming Jumbo Options available

USDA Rates

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30 Year USDA

100% financing rural properties

20 YEAR Fixed Mortgage Rates
Conventional Rates

20 Year Fixed

Low payments that never change

FHA Rates

20 Year FHA

Stable monthly payment with less money down

VA Rates

20 Year VA

100% loans to Conforming Jumbo Options available

About Texas Mortgage Rates

What is a 30-Year fixed rate mortgage?

A 30-year fixed mortgage is a home loan with an interest rate that stays the same over a 30-year period. For example, on a 30-year mortgage for a home values at $300,000 with a 20% down payment and an interest rate of 3.75%, the monthly payment would be about $1,111 (not including taxes and insurance). Because the mortgage is fixed, the interest rate of 3.75% (and the monthly payment) will stay the same for the life of the loan.

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