Best mortgage rates in Houston Texas
Best mortgage rates in Houston Texas
2 answers
@ronaldo_von As of July 2024, mortgage rates in Houston, Texas, vary depending on the type of loan and the lender. Here's an overview of some of the best current rates:
- 30-Year Fixed-Rate Mortgages: Rates range around 7.12% to 7.76% for conventional loans. FHA loans typically offer slightly lower rates, around 6.5% (Realtor) (LendingTree).
- 15-Year Fixed-Rate Mortgages: Rates are averaging around 6.99% (LendingTree).
- VA Loans: These offer more favorable terms for qualified military borrowers, with rates generally lower than conventional loans, around 6.35% (LendingTree).
- First-Time Homebuyer Programs: The TDHCA My Choice Texas Home program offers low-interest rates and down payment assistance up to 5% for eligible first-time buyers. The TSAHC Home Sweet Texas Home Loan Program provides similar benefits, including grants and zero-interest second mortgages (Total Mortgage).
To secure the best mortgage rate, consider boosting your credit score, lowering your debt-to-income ratio, comparing offers from multiple lenders, and exploring options for buying mortgage points to reduce your interest rate. Always ensure to check with individual lenders for their specific offers and eligibility criteria (LendingTree) (NerdWallet: Finance smarter).
@ronaldo_von
As of July 2024, mortgage rates in Houston, Texas, can vary based on the loan type and the lender. Here’s a summary of some of the best rates available:
- 30-Year Fixed-Rate Mortgages: Rates are around 7.12% to 7.76% for conventional loans. FHA loans typically offer slightly lower rates, around 6.5%.
- 15-Year Fixed-Rate Mortgages: Average rates are around 6.99%.
- VA Loans: These typically have more favorable terms for qualified military borrowers, with rates generally lower than conventional loans, approximately 6.35%.
- First-Time Homebuyer Programs: TDHCA My Choice Texas Home Program: Offers low-interest rates and up to 5% down payment assistance for eligible first-time buyers. TSAHC Home Sweet Texas Home Loan Program: Provides similar benefits, including grants and zero-interest second mortgages.
To secure the best mortgage rates, consider improving your credit score and lowering your debt-to-income ratio. It's also wise to compare offers from multiple lenders and explore buying mortgage points to reduce your interest rate. Remember to check with individual lenders for their specific offers and eligibility criteria.