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Dallas

Current Mortgage Rates in Dallas, Texas

Compare mortgage rates and fees for leading lenders in Dallas, 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 Dallas.

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

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Mortgage Rates in Dallas, TX as of April 7, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Dallas, TX Mortgage Rates Compare?

April 7, 2020

The current average rate for a 30 year fixed rate mortgage in Dallas 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
Dallas, 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 Dallas, Texas?

Below we provide helpful information on the real estate market, home prices and housing affordability in Dallas. Understand how much you need to earn to afford a home in Dallas, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Dallas 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 Dallas is right for you.

The median home value for Dallas, TX is $201,958

Based on current mortgage rates and a 10% down payment, you need to make $36,347 per year to buy the median priced home in Dallas

With this income, you could qualify for a $181,762 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 Dallas is $842

The median household income for Dallas, TX is $56,556

Based on this income, you can afford a home valued at approximately $314,246

The home price you can afford to buy based on household income in Dallas is 156% of the median home value which means housing prices are average. Dallas ranks 237 out of 254 counties in Texas and 2,437 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Dallas, Texas

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Dallas below.

Conforming loan limits for Dallas, TX

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

FHA loan limits for Dallas, TX

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

VA loan limits for Dallas, TX

1 unit: $510,400

Additional Mortgage Resources for Dallas, TX Residents

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