Compare mortgage rates and fees for leading lenders in Brownsville, 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 Brownsville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Brownsville. Plus, shopping lenders is free and there is no obligation.
April 7, 2020
The current average rate for a 30 year fixed rate mortgage in Brownsville 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Brownsville. Understand how much you need to earn to afford a home in Brownsville, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Brownsville 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 Brownsville is right for you.
The median home value for Brownsville, TX (Cameron County) is $102,583
Based on current mortgage rates and a 10% down payment, you need to make $18,462 per year to buy the median priced home in Brownsville
With this income, you could qualify for a $92,325 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 Brownsville is $428
The median household income for Brownsville, TX (Cameron County) is $38,067
Based on this income, you can afford a home valued at approximately $211,515
The home price you can afford to buy based on household income in Brownsville is 206% of the median home value which means housing prices are affordable. Brownsville (Cameron County) ranks 181 out of 254 counties in Texas and 1,455 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Brownsville, TX is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Brownsville (Cameron County) below.
Conforming loan limits for Brownsville, TX
FHA loan limits for Brownsville, TX
VA loan limits for Brownsville, TX