What is the average mortgage in Texas?

Texas is one of the largest states in America, and it is home to a diverse landscape. It has everything from wilderness areas to cities to rural areas and everything in between. It’s no wonder why people flock to Texas to buy a home, but what is the average mortgage in Texas? Find out what the average mortgage is and what does a mortgage lender does. Also, what factors play a role in how much you’ll pay for a mortgage in Texas. 

What Is The Average Mortgage In Texas 

What are the typical mortgage terms? The average mortgage in Texas is around $825 per month, and it is considered average. The state isn’t the least expensive place to get a mortgage, but it’s also not the highest. 

The average mortgage payment in Texas is on par with many other states. However, there are a lot of different things that can affect how much you’ll pay for a mortgage in Texas. It means you can do for a mortgage that will cost less than $825 per month or more. In the next section, we’ll discuss the top factors. 

Factors That Determine Mortgage Payments In Texas

In Texas, several factors will affect how much your mortgage will be.


One of the main factors is your credit score and history. Generally speaking, the higher your credit score, the lower your mortgage payments will be, and the more options you’ll have. Mortgage lenders look at credit scores and history to determine how much of a risk they’ll take if they lend to the applicant. 

It’s important to note that the average credit score in Texas is around 654, which isn’t too bad. It means if you want to be approved for a reasonable mortgage rate and have low payments, then you should try to improve your credit score, so it gets higher than 654. Nonetheless, if your credit score is around 654, you should still be able to get a decent rate. 

Length Of Mortgage & Type

The length of the mortgage will factor into how much you’ll pay for a mortgage in Texas. According to a survey, most people opt for a 30-year mortgage, but some people go for 15-year mortgages and even 10-year mortgages. The shorter-term of a mortgage, the more your payments will be, the quicker it will fully be paid. You may ask, How can I get the lowest mortgage rate? If you want to have low monthly payment mortgages, then a 30-year loan at a fixed rate is probably the best option. 

Variable rates mean just that. You could pay a certain monthly amount, but the amount can change. It can go up or down. It’s the reason why you should weigh the pros and cons of fixed-rate and variable-rate mortgages.

Loan Amount & Down-Payment

The amount you apply is matters. If you apply for a mortgage loan for $300,000 or more, and you don’t put much of a down-payment on the house, then you could be looking at a high monthly mortgage payment. Nonetheless, there are various loan options you can apply for, but the amount you need and how much you come up with as a down-payment will be two factors. 

The amount of down payment depends on the selling cost of the property. As a general rule of thumb, it’s a good idea to have at least 30% of the total amount. However, if you can come up with more, then that’ll be better because it means lower monthly payments. Look for the top mortgage lender in Texas so you can have the best deal.


The lender plays a vital role in how much your mortgage payments will be. Different lenders offer different options. Furthermore, they all have their own set of criteria that applicants need to meet. 

There are many lenders in Texas, but they are not all created equal. Some will offer you mortgages at a high rate, even if you have a good credit score, while others will give you a competitive price if you have fair credit. You should also know what do you need to qualify for a mortgage in Texas. Take your time to compare as many lenders as you can, and don’t just accept the first offer that approves you.

There are other factors. However, credit, length of the mortgage, loan amount, the down-payment, and the lender you choose are the top ones. Bear in mind that even if you have poor credit, there is still a chance you can get approved for a mortgage, and at a fair rate. 

Now you know what the average mortgage in Texas is. As you can see, several factors come into play when it comes to how much someone will pay for a mortgage in the state. Generally speaking, you should be able to get an excellent mortgage rate in Texas, as long as you have decent credit, and your credit history is good.