Today’s Texas Mortgage Rates: What You Should Know If You’re Buying or Refinancing in the Lone Star State

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What Are Today’s Mortgage Rates in Texas?

For Friday, December 09, 2022, here are the current mortgage rates in Texas. The average 30-year fixed mortgage rate is 6.650%. The average 30-year fixed mortgage refinance rate is 6.670%. Today, the average 15-year fixed mortgage rate is 5.990%.

Looking at variable rate loans, the average 5/1 adjustable-rate mortgage (ARM) rate is %. 

This information is from Bankrate’s latest survey of the nation’s largest mortgage lenders.

Current Mortgage Rates in Texas

Loan TypeRate
30-year Fixed6.650%
15-year Fixed5.990%
5/1 ARM%
30-Year Refi6.670%

First-Time Homebuyer Programs in Texas

Texas has a number of state-level first-time homebuyer assistance programs. However, there are also a wide range of city and county-specific programs that offer down payment or closing cost assistance. So be sure to talk with a local lender, real estate agent, or housing agency to learn more about what is available in your area.

There are a handful of first-time homebuyer loans offered through the Texas State Affordable Housing Corporation (TSAHC). These programs provide 30-year mortgages and up to 5% in down payment and closing cost assistance to qualified buyers. To be eligible, you must meet the property value and income limits, as well as have a minimum credit score requirement of 620.

The programs are:

These loans are issued by an extensive network of approved lenders. You can find participating lenders for the My First Texas Home and My Choice Texas Home programs here. And the mortgage lenders approved for the other programs can be found here.

Texas Mortgage Taxes

On average, Texas has one of the highest average property tax rates in the country at 1.60%, according to the Tax Foundation. However, property tax rates are set by local governments, so what you pay varies depending on where you live within Texas.

You can deduct the mortgage interest you pay from your federal taxes, but only if you’re itemizing your deductions instead of taking the standard deduction. Texas doesn’t have state income taxes, so you don’t need to worry about state-level tax deductions.

First-time buyers and veterans may be eligible for the Texas Mortgage Credit Certificate Program. If you qualify, you can receive up to $2,000 a year in federal income tax credits.

Texas Mortgage Refinancing

The process for you refinancing your existing mortgage in Texas is roughly the same as in other states. You’ll want to shop around to find the mortgage lender with the best refinance rate and the lowest fees. Your credit score and loan-to-value ratio (LTV) will have a big impact on what interest rate you can qualify for. Aim for a credit score above 740 and a LTV of 80% or less.

Texas does have different rules for cash-out refinance loans for a primary single-family residence. You can only cash-out your equity for up to 80% of your home’s value. Also, certain fees on these types of loans are limited to 2% of the loan amount. But this limit doesn’t include some fees, such as discount points, title fees, and appraisal costs.

Conforming and FHA Loan Limits by County

Conforming loans meet certain guidelines set by the Federal Housing Finance Agency (FHFA). The main rule conforming mortgages must adhere to is a limit for the loan balance. This cap varies depending on the type of property and the home values of the surrounding area.

The 2022 conforming loan limits for Texas are:

TEXAS 2022 CONFORMING LOAN LIMITS BY COUNTY

CountySingle-family Property
Anderson$647,200
Andrews$647,200
Angelina$647,200
Aransas$647,200
Archer$647,200
Armstrong$647,200
Atascosa$647,200
Austin$647,200
Bailey$647,200
Bandera$647,200
Bastrop$647,200
Baylor$647,200
Bee$647,200
Bell$647,200
Bexar$647,200
Blanco$647,200
Borden$647,200
Bosque$647,200
Bowie$647,200
Brazoria$647,200
Brazos$647,200
Brewster$647,200
Briscoe$647,200
Brooks$647,200
Brown$647,200
Burleson$647,200
Burnet$647,200
Caldwell$647,200
Calhoun$647,200
Callahan$647,200
Cameron$647,200
Camp$647,200
Carson$647,200
Cass$647,200
Castro$647,200
Chambers$647,200
Cherokee$647,200
Childress$647,200
Clay$647,200
Cochran$647,200
Coke$647,200
Coleman$647,200
Collin$647,200
Collingsworth$647,200
Colorado$647,200
Comal$647,200
Comanche$647,200
Concho$647,200
Cooke$647,200
Coryell$647,200
Cottle$647,200
Crane$647,200
Crockett$647,200
Crosby$647,200
Culberson$647,200
Dallam$647,200
Dallas$647,200
Dawson$647,200
Deaf Smith$647,200
Delta$647,200
Denton$647,200
De Witt$647,200
Dickens$647,200
Dimmit$647,200
Donley$647,200
Duval$647,200
Eastland$647,200
Ector$647,200
Edwards$647,200
Ellis$647,200
El Paso$647,200
Erath$647,200
Falls$647,200
Fannin$647,200
Fayette$647,200
Fisher$647,200
Floyd$647,200
Foard$647,200
Fort Bend$647,200
Franklin$647,200
Freestone$647,200
Frio$647,200
Gaines$647,200
Galveston$647,200
Garza$647,200
Gillespie$647,200
Glasscock$647,200
Goliad$647,200
Gonzales$647,200
Gray$647,200
Grayson$647,200
Gregg$647,200
Grimes$647,200
Guadalupe$647,200
Hale$647,200
Hall$647,200
Hamilton$647,200
Hansford$647,200
Hardeman$647,200
Hardin$647,200
Harris$647,200
Harrison$647,200
Hartley$647,200
Haskell$647,200
Hays$647,200
Hemphill$647,200
Henderson$647,200
Hidalgo$647,200
Hill$647,200
Hockley$647,200
Hood$647,200
Hopkins$647,200
Houston$647,200
Howard$647,200
Hudspeth$647,200
Hunt$647,200
Hutchinson$647,200
Irion$647,200
Jack$647,200
Jackson$647,200
Jasper$647,200
Jeff Davis$647,200
Jefferson$647,200
Jim Hogg$647,200
Jim Wells$647,200
Johnson$647,200
Jones$647,200
Karnes$647,200
Kaufman$647,200
Kendall$647,200
Kenedy$647,200
Kent$647,200
Kerr$647,200
Kimble$647,200
King$647,200
Kinney$647,200
Kleberg$647,200
Knox$647,200
Lamar$647,200
Lamb$647,200
Lampasas$647,200
La Salle$647,200
Lavaca$647,200
Lee$647,200
Leon$647,200
Liberty$647,200
Limestone$647,200
Lipscomb$647,200
Live Oak$647,200
Llano$647,200
Loving$647,200
Lubbock$647,200
Lynn$647,200
Mcculloch$647,200
Mclennan$647,200
Mcmullen$647,200
Madison$647,200
Marion$647,200
Martin$647,200
Mason$647,200
Matagorda$647,200
Maverick$647,200
Medina$647,200
Menard$647,200
Midland$647,200
Milam$647,200
Mills$647,200
Mitchell$647,200
Montague$647,200
Montgomery$647,200
Moore$647,200
Morris$647,200
Motley$647,200
Nacogdoches$647,200
Navarro$647,200
Newton$647,200
Nolan$647,200
Nueces$647,200
Ochiltree$647,200
Oldham$647,200
Orange$647,200
Palo Pinto$647,200
Panola$647,200
Parker$647,200
Parmer$647,200
Pecos$647,200
Polk$647,200
Potter$647,200
Presidio$647,200
Rains$647,200
Randall$647,200
Reagan$647,200
Real$647,200
Red River$647,200
Reeves$647,200
Refugio$647,200
Roberts$647,200
Robertson$647,200
Rockwall$647,200
Runnels$647,200
Rusk$647,200
Sabine$647,200
San Augustine$647,200
San Jacinto$647,200
San Patricio$647,200
San Saba$647,200
Schleicher$647,200
Scurry$647,200
Shackelford$647,200
Shelby$647,200
Sherman$647,200
Smith$647,200
Somervell$647,200
Starr$647,200
Stephens$647,200
Sterling$647,200
Stonewall$647,200
Sutton$647,200
Swisher$647,200
Tarrant$647,200
Taylor$647,200
Terrell$647,200
Terry$647,200
Throckmorton$647,200
Titus$647,200
Tom Green$647,200
Travis$647,200
Trinity$647,200
Tyler$647,200
Upshur$647,200
Upton$647,200
Uvalde$647,200
Val Verde$647,200
Van Zandt$647,200
Victoria$647,200
Walker$647,200
Waller$647,200
Ward$647,200
Washington$647,200
Webb$647,200
Wharton$647,200
Wheeler$647,200
Wichita$647,200
Wilbarger$647,200
Willacy$647,200
Williamson$647,200
Wilson$647,200
Winkler$647,200
Wise$647,200
Wood$647,200
Yoakum$647,200
Young$647,200
Zapata$647,200
Zavala$647,200

If you’re considering an FHA loan, which is a mortgage backed by the Federal Housing Administration, your loan balance will need to fall within the 2022 FHA loan limits for the area. 

Here are the mortgage amount requirements for FHA loans in Texas broken down by county:

TEXAS 2022 FHA LOAN LIMITS BY COUNTY

CountySingle-family Property
Anderson$420,680
Andrews$420,680
Angelina$420,680
Aransas$420,680
Archer$420,680
Armstrong$420,680
Atascosa$393,300
Austin$420,680
Bailey$420,680
Bandera$393,300
Bastrop$404,800
Baylor$420,680
Bee$420,680
Bell$420,680
Bexar$393,300
Blanco$420,680
Borden$420,680
Bosque$420,680
Bowie$420,680
Brazoria$420,680
Brazos$420,680
Brewster$420,680
Briscoe$420,680
Brooks$420,680
Brown$420,680
Burleson$420,680
Burnet$420,680
Caldwell$404,800
Calhoun$420,680
Callahan$420,680
Cameron$420,680
Camp$420,680
Carson$420,680
Cass$420,680
Castro$420,680
Chambers$420,680
Cherokee$420,680
Childress$420,680
Clay$420,680
Cochran$420,680
Coke$420,680
Coleman$420,680
Collin$404,800
Collingsworth$420,680
Colorado$420,680
Comal$393,300
Comanche$420,680
Concho$420,680
Cooke$420,680
Coryell$420,680
Cottle$420,680
Crane$420,680
Crockett$420,680
Crosby$420,680
Culberson$420,680
Dallam$420,680
Dallas$404,800
Dawson$420,680
Deaf Smith$420,680
Delta$420,680
Denton$404,800
De Witt$420,680
Dickens$420,680
Dimmit$420,680
Donley$420,680
Duval$420,680
Eastland$420,680
Ector$420,680
Edwards$420,680
Ellis$404,800
El Paso$420,680
Erath$420,680
Falls$420,680
Fannin$420,680
Fayette$420,680
Fisher$420,680
Floyd$420,680
Foard$420,680
Fort Bend$420,680
Franklin$420,680
Freestone$420,680
Frio$420,680
Gaines$420,680
Galveston$420,680
Garza$420,680
Gillespie$420,680
Glasscock$420,680
Goliad$420,680
Gonzales$420,680
Gray$420,680
Grayson$420,680
Gregg$420,680
Grimes$420,680
Guadalupe$420,680
Hale$420,680
Hall$420,680
Hamilton$420,680
Hansford$420,680
Hardeman$420,680
Hardin$420,680
Harris$420,680
Harrison$420,680
Hartley$420,680
Haskell$420,680
Hays$404,800
Hemphill$420,680
Henderson$420,680
Hidalgo$420,680
Hill$420,680
Hockley$420,680
Hood$420,680
Hopkins$420,680
Houston$420,680
Howard$420,680
Hudspeth$420,680
Hunt$404,800
Hutchinson$420,680
Irion$420,680
Jack$420,680
Jackson$420,680
Jasper$420,680
Jeff Davis$420,680
Jefferson$420,680
Jim Hogg$420,680
Jim Wells$420,680
Johnson$404,800
Jones$420,680
Karnes$420,680
Kaufman$404,800
Kendall$420,680
Kenedy$420,680
Kent$420,680
Kerr$420,680
Kimble$420,680
King$420,680
Kinney$420,680
Kleberg$420,680
Knox$420,680
Lamar$420,680
Lamb$420,680
Lampasas$420,680
La Salle$420,680
Lavaca$420,680
Lee$420,680
Leon$420,680
Liberty$420,680
Limestone$420,680
Lipscomb$420,680
Live Oak$420,680
Llano$420,680
Loving$420,680
Lubbock$420,680
Lynn$420,680
Mcculloch$420,680
Mclennan$420,680
Mcmullen$420,680
Madison$420,680
Marion$420,680
Martin$341,550
Mason$420,680
Matagorda$420,680
Maverick$420,680
Medina$393,300
Menard$420,680
Midland$420,680
Milam$420,680
Mills$420,680
Mitchell$420,680
Montague$420,680
Montgomery$420,680
Moore$420,680
Morris$420,680
Motley$420,680
Nacogdoches$420,680
Navarro$420,680
Newton$420,680
Nolan$420,680
Nueces$420,680
Ochiltree$420,680
Oldham$420,680
Orange$420,680
Palo Pinto$420,680
Panola$420,680
Parker$404,800
Parmer$420,680
Pecos$420,680
Polk$420,680
Potter$420,680
Presidio$420,680
Rains$420,680
Randall$420,680
Reagan$420,680
Real$420,680
Red River$420,680
Reeves$420,680
Refugio$420,680
Roberts$420,680
Robertson$420,680
Rockwall$404,800
Runnels$420,680
Rusk$420,680
Sabine$420,680
San Augustine$420,680
San Jacinto$420,680
San Patricio$420,680
San Saba$420,680
Schleicher$420,680
Scurry$420,680
Shackelford$420,680
Shelby$420,680
Sherman$420,680
Smith$420,680
Somervell$420,680
Starr$420,680
Stephens$420,680
Sterling$420,680
Stonewall$420,680
Sutton$420,680
Swisher$420,680
Tarrant$404,800
Taylor$420,680
Terrell$420,680
Terry$420,680
Throckmorton$420,680
Titus$420,680
Tom Green$420,680
Travis$389,850
Trinity$420,680
Tyler$420,680
Upshur$420,680
Upton$420,680
Uvalde$420,680
Val Verde$420,680
Van Zandt$420,680
Victoria$420,680
Walker$420,680
Waller$420,680
Ward$420,680
Washington$420,680
Webb$420,680
Wharton$420,680
Wheeler$420,680
Wichita$420,680
Wilbarger$420,680
Willacy$420,680
Williamson$404,800
Wilson$393,300
Winkler$420,680
Wise$404,800
Wood$420,680
Yoakum$420,680
Young$420,680
Zapata$420,680
Zavala$420,680