Informational Resources
When using the mortgage calculator...for a primary purchase in the Austin area, I use 2.3% of the sales price for property taxes and a minimum of $2400/yr for homeowners insurance. If putting down less than 20%, mortgage insurance will be required on most loan types.
Mortgage Calculators are for educational purposes only. Your actual monthly payment may be greater or less than calculator results. Factors that may impact monthly payment amounts include but are not limited to: market conditions, debt-to-income ratios (DTI), property-specific costs and insurance requirements, loan types, and other credit factors.
Current Mortgage Rates in Texas: Get an Estimate
Understanding mortgage rates is key when planning to buy a home in Texas. On our website, we provide two mortgage rate averages to help you get a snapshot of the current Texas mortgage rates. While these rates aren't guaranteed, they give you a general idea of what to expect based on today's market. Keep in mind, rates fluctuate daily and can vary depending on multiple factors like your credit score, loan type, and down payment.
Factors That Influence Your Mortgage Rate
There are several elements that can affect the interest rate you’ll ultimately receive, such as:
- Credit score: A higher score typically means lower rates.
- Loan type: Conventional, FHA, VA, or USDA loans may offer different rates.
- Down payment: Larger down payments often lead to more favorable rates.
- Debt-to-income ratio: The lower your DTI, the better your chances of securing a lower rate.
While the rates displayed give you a great starting point, the best way to get your personalized rate is to get pre-qualified. I’m licensed to provide mortgage loans across Texas, so whether you're looking for a home in Austin or anywhere else, I can guide you through the process.
Calculate Your Monthly Mortgage Payment
In addition to the rate tools, we’ve added a mortgage calculator to help you estimate your monthly payments. This tool factors in important details like:
- Home price
- Down payment
- Loan term
- Interest rate
- Property taxes
- Homeowners insurance
The calculator is user-friendly and perfect for getting a rough idea of what your monthly mortgage payments will look like. As a trusted Texas mortgage loan officer, I'm here to answer any questions and help you find the best mortgage options for your situation.
Why Work With a Local Texas Mortgage Expert?
When looking for mortgage rates in Texas, working with a local expert means you get insights tailored to your specific needs. I’m here to help you every step of the way, from pre-approval to closing. Whether you're buying your first home or refinancing, let’s work together to make sure you get the best mortgage deal available.
