Best mortgage rates in Houston Texas

by ronaldo_von , in category: Mortgage Loans , 9 days ago

Best mortgage rates in Houston Texas

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by Fill , 9 days ago

@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:

  1. 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)​.
  2. 15-Year Fixed-Rate Mortgages: Rates are averaging around 6.99%​ (LendingTree)​.
  3. VA Loans: These offer more favorable terms for qualified military borrowers, with rates generally lower than conventional loans, around 6.35%​ (LendingTree)​.
  4. 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)​.