Reliant Home Funding Editorial Team

NMLS #292473Licensed in 27 statesUpdated October 31, 2026

Reviewed for accuracy by senior mortgage advisors • Rates verified against Freddie Mac PMMS®

Mortgage Rates in Texas

Q: How Do I Qualify for a High-Balance Conforming Loan?

- Answer: High-balance conforming loans are available in high-cost areas up to $1,209,750. Qualification criteria include a credit score of 700+, a down payment of at least 10%, and meeting the lender's income and debt-to-income ratio requirements.

Q: What Is the Difference Between a 15-Year and 30-Year Fixed Mortgage?

- Answer: A 15-year fixed mortgage offers a lower interest rate and faster equity buildup but higher monthly payments. A 30-year fixed mortgage provides lower monthly payments but a higher total interest cost over time.

Q: Can I Refinance My Mortgage in Texas?

- Answer: Yes, refinancing is available for homeowners in Texas. It's advisable to compare current rates and terms to determine if refinancing aligns with your financial goals.

Q: How Long Does It Take to Close on a Mortgage in Texas?

- Answer: The average closing time in Texas is approximately 30 to 45 days, depending on the lender and complexity of the loan. This duration can vary based on several factors.

Navigating the Texas housing market requires a clear understanding of current mortgage rates, especially for prime borrowers seeking agency conventional loans. As of May 17, 2026, according to Freddie Mac's Primary Mortgage Market Survey® (PMMS®), the 30-year fixed mortgage rate is 6.36%. This rate is pivotal for homebuyers aiming to secure favorable financing terms.

What Are Today's Mortgage Rates in Texas?

Understanding the current mortgage rates is essential for making informed decisions. Here's a snapshot of the prevailing rates:

Loan Type	Interest Rate	APR	Points (Cost)	Loan Amount	Down Payment
30-Year Fixed	6.36%	6.50%	1.45%	$300,000	20%
15-Year Fixed	5.71%	5.85%	1.20%	$300,000	20%
7-Year ARM	6.50%	6.65%	1.00%	$300,000	20%

Data as of May 17, 2026, according to Freddie Mac PMMS®. These rates are subject to change based on market conditions and individual borrower qualifications.

Key Considerations for Prime Borrowers

As a prime borrower with a credit score of 700 or higher, established income, and a down payment of 10% or more, you are well-positioned to secure competitive rates. To maximize your mortgage options:

Maintain a High Credit Score: A credit score of 700+ enhances your eligibility for favorable rates.
Prepare a Substantial Down Payment: A down payment of 10% or more can reduce your loan-to-value ratio, potentially lowering your interest rate.
Understand Loan Limits: Agency conventional loans have specific conforming loan limits. In high-cost areas, high-balance conforming loans are available up to $1,209,750. For loan amounts exceeding this limit, jumbo financing is available for qualified borrowers as an overflow option, not a primary one.

Steps to Secure the Best Mortgage Rate

To secure the most favorable mortgage rate in Texas:

Compare Multiple Lenders: Obtain quotes from at least three to four lenders to ensure competitive pricing.
Consider Loan Terms: Evaluate different loan terms (e.g., 15-year vs. 30-year) to find the best fit for your financial goals.
Discuss Rate Lock Options: Once you've selected a lender, discuss the timing for rate locks, which can only occur after a complete application is submitted.
Prepare Documentation: Ensure all necessary documents are ready to expedite the approval process.

Pro Tip: Our streamlined online application makes it easy to apply for a mortgage in minutes.

Common Mistakes Homebuyers Make

Avoid these common pitfalls to ensure a smooth mortgage process:

1. Not Shopping Around

Impact: Accepting the first offer without comparison can result in higher rates and less favorable terms.
How to Avoid: Compare offers from multiple lenders to find the best deal.

2. Ignoring Loan Terms

Impact: Focusing solely on the interest rate without considering loan terms can lead to unexpected costs.
How to Avoid: Review the entire loan package, including fees and terms.

3. Overlooking Closing Costs

Impact: Underestimating closing costs can affect your budget and financial planning.
How to Avoid: Request a detailed breakdown of all closing costs from your lender.

4. Failing to Lock in a Rate

Impact: Not locking in a rate can expose you to potential rate increases before closing.
How to Avoid: Discuss the timing for locking rates once you've selected a loan.

Frequently Asked Questions

1. How Do I Qualify for a High-Balance Conforming Loan?

Answer: High-balance conforming loans are available in high-cost areas up to $1,209,750. Qualification criteria include a credit score of 700+, a down payment of at least 10%, and meeting the lender's income and debt-to-income ratio requirements.

2. What Is the Difference Between a 15-Year and 30-Year Fixed Mortgage?

Answer: A 15-year fixed mortgage offers a lower interest rate and faster equity buildup but higher monthly payments. A 30-year fixed mortgage provides lower monthly payments but a higher total interest cost over time.

3. Can I Refinance My Mortgage in Texas?

Answer: Yes, refinancing is available for homeowners in Texas. It's advisable to compare current rates and terms to determine if refinancing aligns with your financial goals.

4. How Long Does It Take to Close on a Mortgage in Texas?

Answer: The average closing time in Texas is approximately 30 to 45 days, depending on the lender and complexity of the loan. This duration can vary based on several factors.

Conclusion

Understanding current mortgage rates and the factors influencing them is crucial for prime borrowers in Texas. By comparing multiple lenders, considering loan terms, and avoiding common mistakes, you can secure a mortgage that aligns with your financial objectives. Remember, rates and terms are subject to change, so staying informed and proactive is key to making the best decision for your home financing needs.

For a personalized online experience, check your rates and get pre-approved today!

*Texas – SML Mortgage Company License. Reliant Home Funding,

Compliance Disclaimer: Texas – SML Mortgage Company License. Reliant Home Funding, Inc. NMLS #292473. Equal Housing Lender. Licensed in Texas. Loans subject to borrower qualifications, property evaluation, and credit approval. All rates and program guidelines subject to change without notice.