Reliant Home Funding Editorial Team

NMLS #292473Licensed in 27 statesUpdated November 3, 2026

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

Texas Mortgage Application for Conventional Loans

Embarking on the journey to secure a conventional mortgage in Texas can be both exciting and complex. As of May 14, 2026, according to Freddie Mac's Primary Mortgage Market Survey®, the 30-year fixed-rate mortgage averaged 6.36%, and the 15-year fixed-rate mortgage averaged 5.71%. (freddiemac.com) These rates are competitive, especially for borrowers with strong credit profiles.

What Are Today's Mortgage Rates in Texas?

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

| Loan Type | Interest Rate | Change from Last Week |

|-------------------------|---------------|-----------------------|

| 30-Year Fixed Mortgage | 6.36% | -0.01% |

| 15-Year Fixed Mortgage | 5.71% | -0.01% |

These rates are sourced from Freddie Mac's Primary Mortgage Market Survey® as of May 14, 2026. (freddiemac.com)

Monitoring these rates is essential, as they can influence your monthly payments and the overall cost of your loan.

Steps to Apply for a Conventional Mortgage in Texas

Securing a conventional mortgage involves several key steps:

Pre-Qualification: Begin by assessing your financial health. A credit score of 700 or higher is typically favorable for conventional loans. Ensure you have a stable income and a down payment of at least 10%.
Gather Documentation: Prepare essential documents, including:
- Government-issued ID
- Last two years of W-2s and tax returns
- Recent pay stubs
- Bank statements from the past 2-3 months
- Proof of down payment funds
- Employment verification
For self-employed individuals, additional documents like business tax returns and a profit-and-loss statement may be required. (zillow.com)
Submit Application: Complete the mortgage application with accurate and comprehensive information. Many lenders offer secure online portals for this purpose.
Underwriting: Once submitted, your application will undergo underwriting, where all financial details and property information are assessed. Be prepared to provide any additional documents as requested. (kiplinger.com)
Closing: Upon approval, you'll receive a Closing Disclosure at least three days before final signing. At closing, all documents are finalized, funds are transferred, and you become the legal owner of the property.

Pro Tip: Utilize online mortgage applications to streamline the process and receive pre-approval in as little as 24 hours.

Common Mistakes Homebuyers Make

Avoiding common pitfalls can save time and money:

1. Inadequate Documentation

Not providing complete or accurate documents can delay the approval process.

How to Avoid:

Double-check all documents for accuracy.
Ensure all required documents are included.

2. Ignoring Credit Score Impact

Not monitoring your credit score can lead to unexpected rate offers.

How to Avoid:

Regularly check your credit report.
Address any discrepancies promptly.

3. Overlooking Total Costs

Focusing solely on the interest rate without considering closing costs and fees can be misleading.

How to Avoid:

Request a detailed breakdown of all costs.
Compare offers from multiple lenders.

4. Making Large Purchases Before Closing

Significant financial changes can affect loan approval.

How to Avoid:

Avoid major purchases or opening new credit lines during the application process.

5. Not Locking in a Rate

Failing to secure a favorable rate can result in higher payments.

How to Avoid:

Discuss rate lock options with your lender.

Frequently Asked Questions

1. How long does the mortgage application process take?

The process typically takes 30 to 60 days, depending on the complexity of your application and the efficiency of the lender.

2. Can I lock in my interest rate before closing?

Yes, many lenders offer rate lock options to secure your interest rate for a specified period.

3. What is the minimum down payment required for a conventional loan?

Down payments can be as low as 5% for conventional loans, but a higher down payment may be required for larger loan amounts or to avoid private mortgage insurance (PMI).

4. Are there any first-time homebuyer programs in Texas?

While this article focuses on conventional loans, Texas offers various programs for first-time homebuyers. It's advisable to consult with a local lender or housing authority for specific programs.

5. How can I improve my chances of loan approval?

Maintain a good credit score, ensure stable employment, and provide accurate and complete documentation.

For competitive agency conventional rates in Texas, consider Reliant Home Funding (NMLS #292473). Compare today's rates →

Conclusion

Navigating the mortgage application process in Texas requires careful planning and attention to detail. By understanding current rates, preparing necessary documentation, and avoiding common mistakes, you can position yourself for a successful home purchase. Remember to compare offers from multiple lenders and consult with professionals to ensure you secure the best terms for your situation.

*Texas – SML Mortgage Company License. Reliant Home Funding, Inc. NMLS #292473. Equal Housing Lender. Loans subject to borrower qualifications,

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.