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Houston

Current Mortgage Rates in Houston, Texas

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

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

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Mortgage Rates in Houston, TX as of July 5, 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 Houston, TX Mortgage Rates Compare?

July 5, 2020

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

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

The median home value for Houston, TX (Harris County) is $197,341

Based on current mortgage rates and a 10% down payment, you need to make $35,516 per year to buy the median priced home in Houston

With this income, you could qualify for a $177,607 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 Houston is $822

The median household income for Houston, TX (Harris County) is $60,949

Based on this income, you can afford a home valued at approximately $338,653

The home price you can afford to buy based on household income in Houston is 172% of the median home value which means housing prices are average. Houston (Harris County) ranks 219 out of 254 counties in Texas and 2,141 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Houston, Texas

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

Conforming loan limits for Houston, TX

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

FHA loan limits for Houston, TX

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Houston, TX

1 unit: $510,400

Additional Mortgage Resources for Houston, TX Residents

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