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Austin

Current Mortgage Rates in Austin, Texas

Compare mortgage rates and fees for leading lenders in Austin, TX. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Austin.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Austin. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Austin, TX as of September 27, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Austin, TX Mortgage Rates Compare?

September 27, 2020

The current average rate for a 30 year fixed rate mortgage in Austin is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Austin, TX Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Austin, Texas?

Below we provide helpful information on the real estate market, home prices and housing affordability in Austin. Understand how much you need to earn to afford a home in Austin, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Austin fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Austin is right for you.

The median home value for Austin, TX (Travis County) is $375,228

Based on current mortgage rates and a 10% down payment, you need to make $67,531 per year to buy the median priced home in Austin

With this income, you could qualify for a $337,705 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Austin is $1,564

The median household income for Austin, TX (Travis County) is $72,085

Based on this income, you can afford a home valued at approximately $400,528

The home price you can afford to buy based on household income in Austin is 107% of the median home value which means housing prices are average. Austin (Travis County) ranks 253 out of 254 counties in Texas and 2,948 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Austin, TX is average

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Loan Limits for Austin, Texas

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Austin (Travis County) below.

Conforming loan limits for Austin, TX

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Austin, TX

1 unit: $404,800
2 units: $518,200
3 units: $626,400
4 units: $778,450

VA loan limits for Austin, TX

1 unit: $510,400

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