Texas Mortgage and Refinance Rates for April 2026

Current mortgage interest rates in Texas

As of Tuesday, April 28, 2026, current interest rates in Texas are 6.45% for a 30-year fixed mortgage and 5.86% for a 15-year fixed mortgage.

If you’re waiting for mortgage rates to fall significantly in the Lone Star State, you might be disappointed. While rates have decreased since their recent high around 8% in late 2023, they’re still hovering between 6% and 7%. Though recent economic uncertainty has driven rates a bit lower over the past year, they remain above 6%, and most mortgage experts expect them to stay there through the end of the year and into 2027. 

Refinance rates in Texas

If you bought your home in Texas when rates peaked near 8% in the fall of 2023, refinancing now could save you money. However, if you locked in a 3% or 4% rate during the early days of the pandemic, refinancing might not be the best option right now, since 30-year refinance rates remain above 6%.

Home values in Texas are relatively flat year-over-year, but even if you bought relatively recently, you may have more equity than you think. If you have a big expense coming up, a cash-out refinance could help you pay for it more cheaply than other forms of borrowing. Just be sure that you'd qualify for a lower mortgage rate than you're currently paying before pulling this lever.

Texas mortgage rates by loan type

Texas housing market statistics and trends

After years of runaway price increases as people flocked to Texas during the pandemic, the state’s housing market is getting slightly friendlier for buyers. Home prices were down 1% year-over-year in February, but Texas homes also spend a relatively high number of days on the market, according to Redfin. The state has a housing supply of 6 months — which is considered a balanced market (rather than a buyer’s or seller’s market).

Keep in mind, however, that Texas is massive, and different cities have different real estate markets. For example, according to Texas Realtors' 2025 Texas Real Estate Year in Review report, prices in Texarkana increased by 7.5% from the year before, while prices in Austin dropped by 2.1% during the same period. Statewide, here’s where the market currently stands:

• • Median home sales price, January 2026: $331,386
  • Median home value, January 2026: $307,059
  • Median down payment, May 2025: $20,000
  • Median days on market, February 2026: 91
  • Percentage of homes sold above list price, February 2026: 10.9%
  • Percentage of homes with price drops, February 2026: 29%

Sources: ATTOM, Redfin, Texas Realtors, U.S. Census Bureau

Mortgage options in Texas

If you’re looking to become a homeowner, you have several loan options:

• Texas conventional mortgages: To qualify for a conventional mortgage, you’ll generally need a minimum 620 credit score and a debt-to-income (DTI) ratio of no more than 45%. If you make a down payment below 20%, you’ll need to pay private mortgage insurance (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 get an FHA loan with a down payment of just 3.5%. You can still get an FHA loan with a credit score of 500, but that requires a 10% down payment. With an FHA loan, you’ll typically need a DTI between 31% and 41%. FHA loans generally have lower interest rates than conventional loans.
• Texas VA loans: If you’re a veteran or active-duty member of the military (or a surviving spouse), you may qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan doesn’t typically require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25% to 2.15% of the loan amount for first-time buyers.
• Texas USDA loans: If you’re buying a rural property in Texas, you might be eligible for a mortgage guaranteed by the U.S. Department of Agriculture (USDA). These loans don’t require a down payment, but you’ll need to purchase in a designated rural area and meet the area’s income limits.
• Texas jumbo loans: If you want to buy a high-priced, luxury property in Texas, you may need to borrow a jumbo loan. You’ll need to compare jumbo loan rates from multiple lenders, many of which will require a down payment of at least 10%.

First-time homebuyer programs in Texas

If you’re looking to purchase your first home in Texas, you could be eligible for one or more first-time homebuyer programs. Most help buyers who haven’t owned a home in the past three years. They include:

• My First Texas Home: Managed by the Texas Department of Housing and Community Affairs (TDHCA), the My First Texas Home program offers mortgages designed with smaller monthly payments. The program also provides small loans to help homebuyers cover down payments and closing costs. These can be worth up to 5% of your mortgage. You can find a participating lender online.
• Home Sweet Texas Home Loan Program: You don’t need to be a first-time homebuyer to take advantage of the Home Sweet Texas Home Loan program, which is offered by the Texas State Affordable Housing Corporation (TSAHC). It provides 30-year, fixed-rate mortgages and down payment assistance in the form of a grant (which doesn’t need to be paid back) or a deferred forgivable second lien loan. To qualify, you need to meet certain income limits, which vary by county. You can find a participating lender online.
• Homes for Texas Heroes Home Loan Program: Also available from the TSAHC, the Homes for Texas Heroes Home Loan Program is open to police officers, veterans, teachers, corrections officers and emergency medical services personnel.

How to find the best mortgage rate in Texas for you

Additional Texas mortgage resources