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.
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%
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
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
FHA loan limits for Dallas, TX
VA loan limits for Dallas, TX