Compare Canyon, TX mortgage rates and fees from top lenders. 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 lowest mortgage rates in Canyon.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Canyon. Plus, shopping lenders is free and there is no obligation.
May 24, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Canyon. Understand how much you need to earn to afford a home in Canyon, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Canyon 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 Canyon is right for you.
The median home value for Canyon, TX (Randall County) is $221,905
Based on current mortgage rates and a 10% down payment, you need to make $36,358 per year to buy the median priced home in Canyon
With this income, you could qualify for a $199,714 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 Canyon is $842
The median household income for Canyon, TX (Randall County) is $76,365
Based on this income, you can afford a home valued at approximately $466,076
The home price you can afford to buy based on household income in Canyon is 210% of the median home value which means housing prices are affordable. Canyon (Randall County) ranks 174 out of 254 counties in Texas and 1,530 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Canyon, TX is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Canyon (Randall County) below.
Conforming loan limits for Canyon, TX
FHA loan limits for Canyon, TX
VA loan limits for Canyon, TX