Prairie Hill, Texas Mortgage Rates - October 2026
Brian McKay
Brian McKay
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Prairie Hill, Texas mortgage rates from lenders serving Texas range from 5.12% to 8.75%, verified by MonitorBankRates as of October 26, 2026. Current 30-year fixed mortgage rates for Prairie Hill, Texas borrowers from lenders serving Texas include Frost BankFrost BankA+5.0 ★Texas Ratio: 2.51%Rate verified Oct 26, 2026 at 5.75%, Chemcel Federal Credit UnionChemcel Federal Credit UnionA+5.0 ★Texas Ratio: 3.32%Rate verified Oct 23, 2026 at 6.054%, Telco Plus Credit UnionTelco Plus Credit UnionA+5.0 ★Texas Ratio: 2.38%Rate verified Oct 26, 2026 at 6.25%, Education First Federal Credit UnionEducation First Federal Credit UnionA+5.0 ★Texas Ratio: 3.82%Rate verified Oct 23, 2026 at 6.00%, and Houston Federal Credit UnionHouston Federal Credit UnionA+5.0 ★Texas Ratio: 2.70%Rate verified Oct 23, 2026 at 6.625%. Mortgage rates as of October 26, 2026 according to verified data from MonitorBankRates.
Prairie Hill borrowers can compare 228 mortgage rates from 38 lenders serving the Texas area, with mortgage rates as low as 5.75% from Frost Bank. Use the tabs below to compare available loan types. Rates are continually updated, so we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to Texas borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: October 26, 2026
Compare Mortgage Rates Today in Prairie Hill, Texas & the Surrounding Area
Prairie Hill 30 Year Fixed Mortgage Rates
30-year fixed rate; Income-based option. Homebuyers may qualify through either the income-based or location-based option; benefits cannot be combined. Example rates as of 10/5/26.
As Low As; 30-year fixed rates starting at 6.054% APR; Mortgage programs offered through Member First Mortgage, LLC (MFM)
As Low As; Effective October 1, 2026; Real Estate
- Oct 2, 20266.25%▲ from 6.10%
- Oct 1, 20266.10%▼ from 6.35%
- Sep 18, 20266.35%first recorded
Mortgage loan; APR shown is the lowest available rate; rates depend on individual creditworthiness
APR - Fixed Rate as low as
Estimated Payment:; Lender Fee: 0.00%
Discount Point: 0.82%; Origination Point: 0.00%
Estimated Payment:; Lender Fee: 0.00%
As Low As; Rates may include points
- Oct 26, 20267.00%▼ from 7.13%
- Oct 14, 20267.13%▼ from 7.25%
- Oct 1, 20267.25%▲ from 7.13%
- Sep 27, 20267.13%▲ from 7.00%
30-year fixed rate; Location-based option (homes located in qualifying locations). Homebuyers may qualify through either the income-based or location-based option; benefits cannot be combined. Example rates as of 10/5/26.
Payment per $10,000: $67; discount points may apply on Conventional 30 year loans (footnote **)
Purchase loan for military veterans; VA guaranteed
- Oct 26, 20267.09%▼ from 7.23%
- Oct 19, 20267.23%▼ from 7.50%
- Oct 9, 20267.50%▼ from 7.51%
- Oct 2, 20267.51%▲ from 7.20%
Monthly Principal & Interest: $1,996.00
Payment example based on $300,000 loan
Purchase transaction with 20% down payment; APR based on $100,000 loan amount for 80% LTV purchase
- Oct 19, 20267.15%▼ from 7.28%
- Oct 1, 20267.28%▲ from 7.02%
- Sep 27, 20267.02%first recorded
Estimated Payment:; Lender Fee: 0.00%
Loan to Value: 80%
As Low As; Payment: 1,596.73; w/ 0.875 Points; Rates effective as of 10/23/2026
As Low As; Home Loans
up to $832,750; Home Loans up to $832,750; Rate Effective Date: October 23, 2026
Purchase loan
- Oct 26, 20267.24%▼ from 7.34%
- Oct 19, 20267.34%▼ from 7.52%
- Oct 9, 20267.52%▼ from 7.63%
- Oct 2, 20267.63%▲ from 7.35%
Refinance for current homeowners
Purchase, single family primary residence; 20.000% down; minimum credit score 740; loan amount $240,000.00; 360 payments of $1,616.92; lock period 30 days
Rates effective as of 10/22/2026; 45 day lock
- Oct 23, 20267.34%▼ from 7.46%
- Oct 2, 20267.46%▲ from 7.08%
- Sep 17, 20267.08%▲ from 6.83%
- Sep 14, 20266.83%first recorded
Rates current as of 10/26/2026
- Oct 26, 20267.34%▼ from 7.47%
- Oct 20, 20267.47%▼ from 7.60%
- Oct 14, 20267.60%▼ from 7.73%
- Oct 7, 20267.73%▲ from 7.47%
For loans up to $832,750; Financing up to 95% available; Second home financing available
Rates current as of 10/26/2026
- Oct 26, 20267.36%▼ from 7.75%
- Oct 7, 20267.75%▲ from 7.62%
- Sep 27, 20267.62%▲ from 7.36%
- Sep 24, 20267.36%▲ from 7.10%
Purchase, single family primary residence; 20.000% down; minimum credit score 740; loan amount $240,000.00; 360 payments of $1,637.22; lock period 30 days
Estimated Payment:; Lender Fee: 0.00%
Rates effective as of 10/22/2026; 45 day lock
Purchase, single family primary residence; 20.000% down; minimum credit score 740; loan amount $240,000.00; 360 payments of $1,657.62; lock period 45 days
- Oct 26, 20267.49%▼ from 7.87%
- Oct 22, 20267.87%first recorded
Rates current as of 10/26/2026
- Oct 20, 20267.52%▼ from 7.64%
- Oct 14, 20267.64%▼ from 7.77%
- Oct 7, 20267.77%▲ from 7.52%
- Sep 27, 20267.52%▲ from 7.39%
Rates current as of 10/26/2026
- Oct 26, 20267.54%▼ from 8.05%
- Oct 20, 20268.05%▲ from 7.93%
- Oct 14, 20267.93%▼ from 8.05%
- Oct 7, 20268.05%▲ from 7.93%
Rates current as of 10/26/2026
- Oct 26, 20267.60%▼ from 7.72%
- Oct 14, 20267.72%▼ from 7.85%
- Oct 7, 20267.85%▲ from 7.72%
- Sep 27, 20267.72%▲ from 7.47%
Estimated Payment:; Lender Fee: 0.00%
Payment Example: $699.21
Rates current as of 10/8/2026
- Oct 15, 20267.76%▲ from 6.48%
- Sep 16, 20266.48%first recorded
No additional details available.
Rates current as of 10/8/2026
- Oct 15, 20267.80%▲ from 6.91%
- Sep 16, 20266.91%first recorded
As Low As
- Oct 23, 20267.80%▲ from 7.25%
- Sep 18, 20267.25%▲ from 7.13%
- Sep 14, 20267.13%first recorded
As Low As; Construction Loan; Based on $800,000 loan amount with 80% CLTV and FICO>=740; Payment example $5850.65; Loan amount is financed upfront; disbursement based on defined contractual completion steps
- Oct 5, 20267.93%▲ from 7.68%
- Sep 25, 20267.68%▲ from 7.30%
- Sep 17, 20267.30%▲ from 6.92%
- Sep 14, 20266.92%first recorded
Rates current as of 10/26/2026
- Oct 26, 20268.12%▼ from 8.24%
- Oct 20, 20268.24%first recorded
Rates current as of 10/26/2026
- Oct 26, 20268.12%▼ from 8.38%
- Oct 20, 20268.38%▼ from 8.51%
- Oct 14, 20268.51%▼ from 8.64%
- Oct 7, 20268.64%▲ from 8.25%
Rates current as of 10/8/2026
- Oct 15, 20268.22%▲ from 6.95%
- Sep 16, 20266.95%first recorded
Rates are based on a purchase transaction with a 0% down payment. APR is based on $100,000 loan amount for a 105% LTV purchase and reflects any pre-paid finance charge.
- Oct 19, 20268.31%▼ from 8.44%
- Oct 1, 20268.44%▲ from 8.18%
- Sep 27, 20268.18%▲ from 8.06%
- Sep 14, 20268.06%first recorded
Purchase loan; requires mortgage insurance; FHA guaranteed
- Oct 26, 20268.38%▼ from 8.54%
- Oct 19, 20268.54%▼ from 8.86%
- Oct 9, 20268.86%▼ from 8.87%
- Oct 2, 20268.87%▲ from 8.52%
Refinance for current homeowners; requires mortgage insurance; FHA guaranteed
Prairie Hill 15 Year Fixed Mortgage Rates
Payment per $10,000: $82; 1% origination loan fee applies on Conventional 15 year loans (footnote *)
As Low As; Effective October 1, 2026; Real Estate
- Oct 2, 20265.50%▲ from 5.00%
- Oct 1, 20265.00%▼ from 5.25%
- Sep 18, 20265.25%first recorded
Mortgage loan; APR shown is the lowest available rate; rates depend on individual creditworthiness
Mortgage/Land Loan; All rates quoted with zero points; APR assumes $100,000 loan amount and monthly repayment
- Oct 2, 20266.00%▲ from 5.75%
- Sep 14, 20265.75%first recorded
Loan to Value: 80%
APR - Fixed Rate as low as
Estimated Payment:; Lender Fee: 0.00%
Monthly Principal & Interest: $2,552.00
Payment example based on $300,000 loan
As Low As; Rates may include points
- Oct 19, 20266.38%▼ from 6.50%
- Sep 27, 20266.50%▲ from 6.25%
- Sep 18, 20266.25%▲ from 6.13%
- Sep 14, 20266.13%first recorded
Number of payments: 180; Total payment: $2,090.66; 1.000 discount point(s); loan amount $240,000.00 with 20.000% down, minimum credit score 740; APR 6.832% per page context; lock period 30 days
- Oct 26, 20266.50%▼ from 6.63%
- Oct 22, 20266.63%first recorded
Discount Point: 0.80%; Origination Point: 0.00%
As Low As; Payment: 2,074.20; w/ 0.750 Points; Rates effective as of 10/23/2026
Purchase transaction with 20% down payment; APR based on $100,000 loan amount for 80% LTV purchase
- Oct 19, 20266.69%▼ from 6.81%
- Oct 1, 20266.81%▲ from 6.56%
- Sep 27, 20266.56%first recorded
Purchase loan
- Oct 26, 20266.80%▼ from 6.93%
- Oct 19, 20266.93%▼ from 7.08%
- Oct 9, 20267.08%▼ from 7.10%
- Oct 2, 20267.10%▲ from 6.99%
Refinance for current homeowners
up to $832,750; Home Loans up to $832,750; Rate Effective Date: October 23, 2026
For loans up to $832,750; Financing up to 95% available; Second home financing available
Payment Amount: $3,540; Based on $400,000 conforming loan amount; Rates effective as of 10/23/2026 8:08:22 AM
- Oct 26, 20266.92%▼ from 7.04%
- Oct 10, 20267.04%▲ from 6.79%
- Sep 22, 20266.79%first recorded
Loan to Value: 90%
As Low As; Home Loans
Rates effective as of 10/22/2026; 45 day lock
Estimated Payment:; Lender Fee: 0.00%
Estimated Payment:; Lender Fee: 0.00%
Rates current as of 10/8/2026
- Oct 15, 20267.16%▲ from 6.15%
- Sep 16, 20266.15%first recorded
Payment Example: $891.85
Rates current as of 10/26/2026
- Oct 26, 20267.17%▼ from 7.30%
- Oct 14, 20267.30%▼ from 7.43%
- Oct 7, 20267.43%▲ from 7.30%
- Sep 27, 20267.30%▼ from 7.56%
No additional details available.
Lot/Land loan; Rate as low as 7.000%; based on a $120,000 loan amount with 80% CLTV and FICO>=740; payment example $1078.59
Rates current as of 10/26/2026
- Oct 14, 20267.22%▼ from 7.48%
- Oct 7, 20267.48%▲ from 7.35%
- Sep 27, 20267.35%▼ from 7.60%
- Sep 24, 20267.60%▲ from 6.97%
As Low As; Payment example: $860.54
Estimated Payment:; Lender Fee: 0.00%
As Low As; Construction Loan; Based on $800,000 loan amount with 80% CLTV and FICO>=740; Payment example $7649.34; Loan amount is financed upfront; disbursement based on defined contractual completion steps
- Oct 5, 20267.46%▲ from 7.21%
- Sep 25, 20267.21%▲ from 6.83%
- Sep 17, 20266.83%▲ from 6.45%
- Sep 14, 20266.45%first recorded
As Low As; Effective October 1, 2026; Real Estate
- Oct 1, 20267.50%▲ from 7.38%
- Sep 18, 20267.38%first recorded
Lot/Land loan; Rate as low as 7.500%; based on a $120,000 loan amount with 80% CLTV and FICO>=740; payment example $1112.41
Rates current as of 10/8/2026
- Oct 15, 20267.92%▲ from 6.34%
- Sep 16, 20266.34%first recorded
Rates current as of 10/8/2026
- Oct 15, 20268.03%▲ from 6.47%
- Sep 16, 20266.47%first recorded
Amount starting at $50,000
- Oct 26, 20268.92%▼ from 9.08%
- Oct 19, 20269.08%▲ from 8.86%
- Oct 9, 20268.86%▲ from 8.76%
- Oct 2, 20268.76%▲ from 8.65%
Prairie Hill 5/1 ARM Mortgage Rates
Rate fixed for 60 months; annual adjustment cap 2% after 60 months; maximum adjustment for life of loan 4.0%; effective January 15, 2026; rates may vary based on credit score and/or term
Rate based on $280,000 loan, owner-occupied single-family 1-unit, 80% LTV, FICO 740+
Rates effective June 3, 2026; Annual Cap: 2.00%; Lifetime Cap: 5.00%; Minimum Loan Amount is $20,000; Maximum Refinance Loan to Value is 90%; Maximum Purchase Money 95% LTV; APR based on 30-day average SOFR index; APR calculated on a $100,000 loan; based on A+ credit rating
As Low As; Rates may include points
- Oct 26, 20265.88%▼ from 6.00%
- Oct 14, 20266.00%▼ from 6.13%
- Oct 1, 20266.13%▲ from 5.63%
- Sep 18, 20265.63%▲ from 5.50%
As Low As; Estimated Payment: $2,098.43 per month for initial fixed rate period (5 years)
- Oct 2, 20266.00%▲ from 5.75%
- Sep 17, 20265.75%first recorded
Purchase transaction with 20% down payment; APR based on $100,000 loan amount for 80% LTV purchase
As Low As; Rate and payment locked for first 5 years, then adjustable every 5 years; 5% minimum down payment
- Oct 2, 20266.09%▲ from 5.84%
- Sep 20, 20265.84%▲ from 5.59%
- Sep 14, 20265.59%first recorded
Effective 10-26-2026
- Oct 26, 20266.23%▼ from 6.35%
- Oct 20, 20266.35%first recorded
As Low As
As Low As; Interest Rate/APR shown as rate / APR; Term structure 5/1 ARM; 1% annual rate caps
As Low As; Adjustable Rate (15/15 ARM) - Primary or secondary owner-occupied residence, $205,000 loan amount, 80% LTV, 5% Rate Cap for one-time adjustment; Payment example: $1278.93
- Oct 23, 20266.63%▲ from 6.61%
- Oct 5, 20266.61%▲ from 6.24%
- Sep 17, 20266.24%▲ from 6.22%
- Sep 14, 20266.22%first recorded
up to $832,750; Home Loans up to $832,750; Rate Effective Date: October 23, 2026
No additional details available.
- Oct 12, 20266.82%▲ from 5.44%
- Sep 25, 20265.44%first recorded
As Low As; Payment: 1,419.69; w/ 1.000 Points; Rates effective as of 10/23/2026
No additional details available.
- Oct 12, 20266.99%▲ from 5.73%
- Sep 25, 20265.73%first recorded
Adjustable-Rate Home Loan; Payment Example: $648.60
As Low As; Home Loans
Adjustable-Rate Home Loan; Payment Example: $656.93
No additional details available.
- Oct 12, 20267.35%▲ from 6.00%
- Sep 25, 20266.00%first recorded
No additional details available.
- Oct 12, 20267.40%▲ from 6.04%
- Sep 25, 20266.04%first recorded
ARM rate; amount starting at $40,000
- Oct 26, 20268.13%▼ from 8.28%
- Oct 19, 20268.28%▲ from 8.05%
- Oct 9, 20268.05%▲ from 7.94%
- Oct 2, 20267.94%▲ from 7.87%
Prairie Hill 30-Year Jumbo Mortgage Rates
Loan amounts greater than $832,750
- Oct 2, 20266.19%▲ from 5.94%
- Sep 20, 20265.94%▲ from 5.69%
- Sep 14, 20265.69%first recorded
As Low As; Loan amounts greater than $832,750; Rates based on 80% loan to value; Financing available up to 90% loan to value; Origination fees may apply; Construction phase up to 1 year in addition to terms listed
- Oct 23, 20266.25%▼ from 6.65%
- Sep 20, 20266.65%first recorded
Fixed-rate purchase mortgage
For loans greater than $832,750; Financing up to 90% available; No maximum loan amount; Second home financing available
- Oct 26, 20266.60%▲ from 6.53%
- Oct 20, 20266.53%first recorded
Rate as low as 6.250%; based on a $1,200,000 loan amount with 80% CLTV and FICO>=740; 2% annual adjustment and 5% lifetime cap; primary or secondary owner-occupied; rate and payment may increase after consummation
- Oct 23, 20266.70%▲ from 6.66%
- Sep 25, 20266.66%▲ from 6.29%
- Sep 17, 20266.29%▲ from 6.25%
- Sep 14, 20266.25%first recorded
Jumbo Home Loan; Payment Example: $6320.68
Jumbo Home Loan; Payment Example: $6403.11
For loans greater than $832,750; Financing up to 90% available; No maximum loan amount; Second home financing available
Home Loans Over $832,750; Rate Effective Date: October 23, 2026
- Oct 23, 20266.80%▼ from 6.86%
- Oct 15, 20266.86%▲ from 6.80%
- Oct 13, 20266.80%▼ from 6.87%
- Oct 9, 20266.87%▲ from 6.80%
Lender Fee: 0.00%; Estimated Payment:
As Low As; Adjustable-rate mortgage loans; Rates as of Oct 19, 2026 ET
- Oct 20, 20266.83%▼ from 6.87%
- Oct 6, 20266.87%▲ from 6.77%
- Sep 30, 20266.77%first recorded
As Low As; Payment: 6,076.11; w/ 1.000 Points; Rates effective as of 10/23/2026
Mortgage; discount points associated with Jumbo thirty year loans
- Oct 26, 20267.02%▲ from 6.37%
- Sep 14, 20266.37%first recorded
Loan amounts greater than $832,750
- Oct 23, 20267.06%▼ from 7.19%
- Oct 8, 20267.19%▲ from 7.06%
- Oct 2, 20267.06%▲ from 6.68%
- Sep 20, 20266.68%▲ from 6.43%
As Low As; Loan amounts greater than $832,750; Rates based on 80% loan to value; Financing available up to 90% loan to value; Origination fees may apply; Construction phase up to 1 year in addition to terms listed
- Oct 23, 20267.09%▼ from 7.37%
- Sep 20, 20267.37%first recorded
Discount Point: 0.72%; Origination Point: 0.00%
Jumbo adjustable-rate; fixed period 7 years, adjusts yearly; based on $940,000 loan and at least 25% down; current as of 10/26/2026
loan amount $940,000 and at least 25% equity; 30-year term; ARM rates may adjust after the initial fixed-rate period
No additional details available.
Home Loans Over $832,750; Rate Effective Date: October 23, 2026
- Oct 23, 20267.18%▼ from 7.30%
- Oct 13, 20267.30%▼ from 7.43%
- Oct 9, 20267.43%▲ from 7.30%
- Oct 5, 20267.30%▼ from 7.43%
Lender Fee: 0.00%; Estimated Payment:
- Oct 26, 20267.19%▼ from 7.32%
- Oct 19, 20267.32%▼ from 7.45%
- Oct 14, 20267.45%first recorded
Monthly Principal & Interest: $6,738.00; Jumbo loans greater than $832,750; 20% down payment required, up to 80% LTV
Jumbo loans greater than $832,750; 20% down payment required and up to 80% LTV; Payment example based on $1,000,000 loan
Jumbo adjustable-rate; fixed period 10 years, adjusts yearly; based on $940,000 loan and at least 25% down; current as of 10/26/2026
loan amount $940,000 and at least 25% equity; 30-year term; ARM rates may adjust after the initial fixed-rate period
Jumbo Home Loan; Payment Example: $6906.75
Purchase, refinance, or home equity of a luxury home; fixed rate for first 7 years; amount $806,501 - $2,000,000
- Oct 26, 20267.42%▼ from 7.56%
- Oct 19, 20267.56%▲ from 6.93%
- Sep 18, 20266.93%first recorded
Loan amounts greater than $832,750
- Oct 23, 20267.42%▼ from 7.55%
- Oct 8, 20267.55%▲ from 7.42%
- Oct 2, 20267.42%▲ from 7.05%
- Sep 20, 20267.05%▲ from 6.79%
As Low As; Loan amounts greater than $832,750; Rates based on 80% loan to value; Financing available up to 90% loan to value; Origination fees may apply; Construction phase up to 1 year in addition to terms listed
- Oct 23, 20267.45%▼ from 7.72%
- Sep 20, 20267.72%first recorded
Jumbo fixed-rate; based on $940,000 loan and at least 25% down; current as of 10/26/2026
loan amount $940,000 and at least 25% equity
$766,551-$999,999; Rate as low as 7.500%, APR as low as 7.513%; Loan Amount Example: $900,000.00
- Oct 26, 20267.51%▲ from 7.01%
- Sep 14, 20267.01%first recorded
$766,551 -$999,999; As Low As; Home Loan Rates
- Oct 2, 20267.51%▲ from 7.01%
- Sep 14, 20267.01%first recorded
Jumbo fixed-rate; based on $940,000 loan and at least 25% down; current as of 10/26/2026
For loans greater than $832,750; Financing up to 90% available; No maximum loan amount; Second home financing available
- Oct 26, 20267.54%▲ from 7.41%
- Oct 20, 20267.41%first recorded
loan amount $940,000 and at least 25% equity
Based on $806,500.00 loan amount
- Oct 19, 20267.60%▼ from 7.63%
- Oct 13, 20267.63%first recorded
$766,551-$999,999; Rate as low as 7.750%, APR as low as 7.761%; Loan Amount Example: $900,000.00
- Oct 26, 20267.76%▲ from 7.26%
- Sep 14, 20267.26%first recorded
$766,551 -$999,999; As Low As; Home Loan Rates
- Oct 2, 20267.76%▲ from 7.26%
- Sep 14, 20267.26%first recorded
$1,000,000; As Low As; Mortgage Loan Rates
- Oct 4, 20267.90%▲ from 7.37%
- Sep 14, 20267.37%first recorded
$1,600,000.00+; As Low As; Mortgage Loan Rates
- Oct 4, 20268.15%▲ from 7.63%
- Sep 14, 20267.63%first recorded
As Low As; Exclusive for Servicemembers, Reservists and Veterans who have exhausted their VA loan benefit; no down payment required; Rates as of Oct 26, 2026 ET
- Oct 26, 20268.22%▼ from 8.35%
- Oct 20, 20268.35%first recorded
Interest Rates As Low As; Jumbo loan; Down payment 0%; 720 FICO; single-family primary residence; Rates as of Oct 26, 2026 ET
- Oct 26, 20268.35%▼ from 8.48%
- Oct 20, 20268.48%▼ from 8.61%
- Oct 1, 20268.61%first recorded
Prairie Hill 15-Year Jumbo Mortgage Rates
Loan amounts greater than $832,750
- Oct 2, 20266.47%▲ from 6.22%
- Sep 20, 20266.22%▲ from 5.96%
- Sep 14, 20265.96%first recorded
As Low As; Loan amounts greater than $832,750; Rates based on 80% loan to value; Financing available up to 90% loan to value; Origination fees may apply; Construction phase up to 1 year in addition to terms listed
- Oct 23, 20266.51%▼ from 6.90%
- Sep 20, 20266.90%first recorded
Lender Fee: 0.00%; Estimated Payment:
- Oct 19, 20266.74%▼ from 6.99%
- Oct 14, 20266.99%first recorded
No additional details available.
- Oct 26, 20266.85%▼ from 6.97%
- Oct 20, 20266.97%first recorded
Discount Point: 0.97%; Origination Point: 0.00%
$766,551-$999,999; Rate as low as 7.125%, APR as low as 7.141%; Loan Amount Example: $900,000.00
- Oct 26, 20267.14%▲ from 6.64%
- Sep 14, 20266.64%first recorded
$766,551-$999,999; As Low As; Home Loan Rates
- Oct 2, 20267.14%▲ from 6.64%
- Sep 14, 20266.64%first recorded
Home Loans Over $832,750; Rate Effective Date: October 23, 2026
- Oct 23, 20267.21%▼ from 7.34%
- Oct 5, 20267.34%▼ from 7.46%
- Sep 29, 20267.46%▲ from 7.34%
- Sep 25, 20267.34%▲ from 6.96%
Based on $806,500.00 loan amount
- Oct 26, 20267.23%▲ from 7.20%
- Oct 19, 20267.20%▼ from 7.23%
- Oct 13, 20267.23%first recorded
Jumbo fixed-rate; based on $940,000 loan and at least 25% down; current as of 10/26/2026
For loans greater than $832,750; Financing up to 90% available; No maximum loan amount; Second home financing available
loan amount $940,000 and at least 25% equity
Prairie Hill 5/1 Jumbo ARM Mortgage Rates
As Low As; Estimated Payment per $10,000: $59.96; Loan amounts greater than $832,750; 5/5 adjustable-rate mortgage; minimum down payment 5%
- Oct 2, 20266.04%▲ from 5.79%
- Sep 20, 20265.79%▲ from 5.54%
- Sep 14, 20265.54%first recorded
No additional details available.
- Oct 26, 20266.07%▼ from 6.12%
- Oct 19, 20266.12%▲ from 6.10%
- Oct 13, 20266.10%▼ from 6.13%
- Sep 29, 20266.13%▲ from 5.88%
Rate as low as 6.375%; based on a $1,200,000 loan amount with 80% CLTV and FICO>=740; 5% rate cap for one-time adjustment; primary or secondary owner-occupied; rate and payment may increase after consummation
- Oct 23, 20266.60%▲ from 6.58%
- Sep 25, 20266.58%▲ from 6.20%
- Sep 17, 20266.20%▲ from 6.18%
- Sep 14, 20266.18%first recorded
Jumbo Home Loan; Payment Example: $6238.70
As Low As; Adjustable-rate mortgage loans; Rates as of Oct 19, 2026 ET
- Oct 20, 20266.78%▼ from 6.83%
- Oct 6, 20266.83%▲ from 6.75%
- Sep 30, 20266.75%first recorded
Home Loans Over $832,750; Rate Effective Date: October 23, 2026
- Oct 23, 20266.78%▼ from 6.83%
- Oct 15, 20266.83%▲ from 6.75%
- Oct 13, 20266.75%▼ from 6.80%
- Oct 9, 20266.80%▲ from 6.75%
Jumbo Home Loan; Payment Example: $6320.68
Jumbo adjustable-rate; fixed period 5 years, adjusts yearly; based on $940,000 loan and at least 25% down; current as of 10/26/2026
loan amount $940,000 and at least 25% equity; 30-year term; ARM rates may adjust after the initial fixed-rate period
Prairie Hill FHA Loan Rates
Rate as low as 6.625%, APR as low as 6.837%; Loan Amount Example: $300,000.00
- Oct 2, 20266.84%▼ from 6.92%
- Sep 14, 20266.92%first recorded
As Low As; Home Loan Rates
- Oct 2, 20266.84%▼ from 6.92%
- Sep 14, 20266.92%first recorded
Estimated Payment:; Lender Fee: 0.00%
Fixed Rate Mortgage; based on $280,000 loan, owner-occupied, 80% LTV, FICO 740+
Fixed Rate Mortgage; based on $280,000 loan, owner-occupied, 80% LTV, FICO 740+
Fixed Rate Mortgage; based on $280,000 loan, owner-occupied, 80% LTV, FICO 740+
Rate as low as 7.375%, APR as low as 7.410%; Loan Amount Example: $300,000.00
- Oct 2, 20267.41%▲ from 7.31%
- Sep 14, 20267.31%first recorded
As Low As; Home Loan Rates
- Oct 2, 20267.41%▲ from 7.31%
- Sep 14, 20267.31%first recorded
Rate as low as 7.375%, APR as low as 7.416%; Loan Amount Example: $300,000.00
- Oct 2, 20267.42%▲ from 7.32%
- Sep 14, 20267.32%first recorded
As Low As; Home Loan Rates
- Oct 2, 20267.42%▲ from 7.32%
- Sep 14, 20267.32%first recorded
Estimated Payment:; Lender Fee: 0.00%
Monthly Principal & Interest: $1,980.00; Origination fees may apply
Origination fees may apply
As Low As; FHA (Federal Housing Administration) loans have a maximum loan amount, which varies by county and is not intended for investment properties or second-home loans. Down payment as low as 3.5% of the purchase price.
- Oct 23, 20267.62%▲ from 7.36%
- Oct 12, 20267.36%first recorded
Rates effective as of 10/22/2026; 45 day lock
As Low As; FHA (Federal Housing Administration) loans have a maximum loan amount, which varies by county and is not intended for investment properties or second-home loans. Down payment as low as 3.5% of the purchase price.
As Low As; Term: 15 years; Payment example: $1718.35; Based on $185,000 loan amount with 80% CLTV and FICO>=740; includes mortgage insurance; available for purchases only
- Oct 23, 20267.84%▲ from 7.71%
- Sep 14, 20267.71%first recorded
Rates current as of 10/8/2026
- Oct 15, 20268.03%▲ from 6.47%
- Sep 16, 20266.47%first recorded
No additional details available.
Rates current as of 10/26/2026
- Oct 26, 20268.12%▼ from 8.24%
- Oct 20, 20268.24%first recorded
Rates current as of 10/26/2026
- Oct 26, 20268.12%▼ from 8.38%
- Oct 20, 20268.38%▼ from 8.51%
- Oct 14, 20268.51%▼ from 8.64%
- Oct 7, 20268.64%▲ from 8.25%
FHA; based on $270,019 loan and at least 3.5% down; current as of 10/26/2026
loan amount $270,019 and at least 3.5% equity; FICO 680+
Rates current as of 10/8/2026
- Oct 15, 20268.22%▲ from 6.95%
- Sep 16, 20266.95%first recorded
No additional details available.
As Low As; Term: 30 years; Payment example: $1348.56; Based on $185,000 loan amount with 80% CLTV and FICO>=740; includes mortgage insurance; available for purchases only
- Oct 23, 20268.31%▲ from 7.79%
- Sep 14, 20267.79%first recorded
Purchase loan; requires mortgage insurance; FHA guaranteed
- Oct 26, 20268.38%▼ from 8.54%
- Oct 19, 20268.54%▼ from 8.86%
- Oct 9, 20268.86%▼ from 8.87%
- Oct 2, 20268.87%▲ from 8.52%
Refinance for current homeowners; requires mortgage insurance; FHA guaranteed
Prairie Hill VA Loan Rates
Fixed-rate purchase mortgage
Fixed-rate purchase mortgage
Home Loans Over $832,750; Rate Effective Date: October 23, 2026
- Oct 23, 20266.78%▼ from 6.83%
- Oct 15, 20266.83%▲ from 6.75%
- Oct 13, 20266.75%▼ from 6.80%
- Oct 9, 20266.80%▲ from 6.75%
As Low As; Rates as of Oct 19, 2026 ET. Rates subject to change. Available exclusively to eligible Servicemembers, Veterans and their spouses. No down payment is required.
Home Loans Over $832,750; Rate Effective Date: October 23, 2026
- Oct 23, 20266.80%▼ from 6.86%
- Oct 15, 20266.86%▲ from 6.80%
- Oct 13, 20266.80%▼ from 6.87%
- Oct 9, 20266.87%▲ from 6.80%
up to $832,750; Home Loans up to $832,750; Rate Effective Date: October 23, 2026
Rate as low as 6.625%, APR as low as 6.837%; Loan Amount Example: $300,000.00
- Oct 10, 20266.84%▲ from 6.20%
- Sep 14, 20266.20%first recorded
As Low As; Home Loan Rates
- Oct 2, 20266.84%▲ from 6.20%
- Sep 14, 20266.20%first recorded
up to $832,750; Home Loans up to $832,750; Rate Effective Date: October 23, 2026
Estimated Payment:; Lender Fee: 0.00%
As Low As; Rates as of Oct 19, 2026 ET. Rates subject to change. Available exclusively to eligible Servicemembers, Veterans and their spouses. No down payment is required.
Purchase loan for military veterans; VA guaranteed
- Oct 26, 20267.09%▼ from 7.23%
- Oct 19, 20267.23%▼ from 7.50%
- Oct 9, 20267.50%▼ from 7.51%
- Oct 2, 20267.51%▲ from 7.20%
Estimated Payment:; Lender Fee: 0.00%
No additional details available.
Rates effective as of 10/22/2026; 45 day lock
- Oct 23, 20267.34%▼ from 7.46%
- Oct 2, 20267.46%▲ from 7.08%
- Sep 17, 20267.08%▲ from 6.83%
- Sep 14, 20266.83%first recorded
As Low As; Based on a $185,000 loan amount with an 80% CLTV and FICO>=740; Payment example $1277.8 includes funding fee; Available for purchases only; Loan amount subject to available VA entitlement
- Oct 23, 20267.36%▼ from 7.47%
- Sep 21, 20267.47%first recorded
Rates current as of 10/26/2026
- Oct 26, 20267.36%▼ from 7.75%
- Oct 7, 20267.75%▲ from 7.62%
- Sep 27, 20267.62%▲ from 7.36%
- Sep 24, 20267.36%▲ from 7.10%
Fixed Rate Mortgage; based on $280,000 loan, owner-occupied, 80% LTV, FICO 740+
VA; based on $383,625 loan and no down payment; current as of 10/26/2026
Rate as low as 7.375%, APR as low as 7.410%; Loan Amount Example: $300,000.00
- Oct 10, 20267.41%▲ from 6.69%
- Sep 14, 20266.69%first recorded
As Low As; Home Loan Rates
- Oct 2, 20267.41%▲ from 6.69%
- Sep 14, 20266.69%first recorded
Rate as low as 7.375%, APR as low as 7.416%; Loan Amount Example: $300,000.00
- Oct 10, 20267.42%▲ from 6.80%
- Sep 14, 20266.80%first recorded
As Low As; Home Loan Rates
- Oct 2, 20267.42%▲ from 6.80%
- Sep 14, 20266.80%first recorded
Fixed Rate Mortgage; based on $280,000 loan, owner-occupied, 80% LTV, FICO 740+
Fixed Rate Mortgage; based on $280,000 loan, owner-occupied, 80% LTV, FICO 740+
Rates current as of 10/26/2026
- Oct 26, 20267.54%▼ from 8.05%
- Oct 20, 20268.05%▲ from 7.93%
- Oct 14, 20267.93%▼ from 8.05%
- Oct 7, 20268.05%▲ from 7.93%
Rates current as of 10/8/2026
- Oct 15, 20267.76%▲ from 6.48%
- Sep 16, 20266.48%first recorded
No additional details available.
Rates current as of 10/8/2026
- Oct 15, 20267.92%▲ from 6.34%
- Sep 16, 20266.34%first recorded
No additional details available.
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
Prairie Hill, TX Mortgage Rate Trends
Compare local Prairie Hill, TX mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes, updated every evening.
Texas 30-year fixed rates fell 0.075 points over the past 7 days to 7.306%.
Texas 15-year fixed rates fell 0.094 points over the past 7 days to 6.801%.
Texas Mortgage Rate Forecast, Next 12 Months
Where are Texas mortgage rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for Prairie Hill, TX Home Buyers
Monthly principal & interest payment on Prairie Hill, TX median home of $303,400 (20% down, 30-year fixed, city-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (TX avg) | 7.306% | $1,665 | 25.5% | |
| 6-Month Forecast | 7.306% (6.96, 7.61%) | $1,665 | +$0/mo | 25.5% |
| 12-Month Forecast | 7.556% (7.21, 7.86%) | $1,706 | +$41/mo | 26.1% |
Income column = annual mortgage payment as % of Prairie Hill, TX median household income ($78,476). Above 30% is generally considered cost-burdened.
MonitorBankRates Housing Affordability Index (MBR-HAI)
A daily-updated affordability score for Prairie Hill, Texas , computed from local Census Bureau data combined with current Texas mortgage rates. Based on Texas statewide data for this location.
What This Score Means for Prairie Hill, Texas Home Buyers
With a score of 96.9, Prairie Hill, Texas is 0.5 points less affordable than the national average of 97.4. The area’s median home value of $283,800 against a median household income of $78,476 produces a price-to-income ratio of 3.6x , relatively affordable compared to national levels. At the current Texas mortgage rate of 7.306%, a buyer purchasing the median-priced home with 20% down would carry a monthly payment of approximately $1,557 in principal and interest.
Beyond the mortgage payment, the median total monthly owner cost in this area is $1,404, covering mortgage, property taxes, insurance, and utilities. Property taxes alone average $444/month ($5,327/year). These ongoing costs factor directly into the MBR-HAI alongside the mortgage rate and income data.
Score computed from Texas statewide U.S. Census Bureau ACS 5-Year Estimates (2024) and CPS/HVS Q4 2025 data, combined with the current Texas live mortgage rate. Score of 100 = national average at 6.5% reference rate. Full methodology
How Mortgage Rates Impact Home Affordability in Prairie Hill, Texas
Prairie Hill, Texas Housing Market Overview
City-level home value data is not available for Prairie Hill ; figures below reflect Texas statewide data.
The Texas statewide median owner-occupied home value is approximately $283,800, according to the U.S. Census Bureau. The 2026 FHFA conforming loan limit for this area is $832,750, meaning most buyers financing at 80% LTV will qualify for conforming loan pricing, making rate comparison across local lenders especially valuable.
Prairie Hill, Texas Homeownership Rate
The homeownership rate in Prairie Hill, Texas stands at 63.2%, near the national average of 65.7%. The homeowner vacancy rate is 1.6%.
Monthly Payment Estimates for Prairie Hill, Texas Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $400,000 mortgage.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.806% | 30-year fixed | $2,609 | $539,348 |
| 7.306% Current Avg | 30-year fixed | $2,744 | $587,809 |
| 7.806% | 30-year fixed | $2,881 | $637,212 |
| 6.801% | 15-year fixed | $3,551 | $239,172 |
A 0.500% rate increase on a $400,000 loan adds roughly $137 per month and over $49,402 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders, using the rate table above, is one of the most impactful financial decisions a Prairie Hill, Texas buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only; taxes, insurance, and PMI not included.
Prairie Hill, Texas Income & Housing Affordability
City-level Census data is not available for Prairie Hill ; figures below reflect Texas statewide data.
At a price-to-income ratio of 3.6x, Texas is a relatively affordable housing market compared to national averages. That ratio, median home value divided by median household income, is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for Texas Buyers
With a median household income of $78,476 per year in Texas statewide ($6,540/month) and a median home value of approximately $283,800, a buyer financing at 80% LTV at the current average rate would commit roughly 42% of gross monthly income to principal and interest alone. That places most buyers above the 30% threshold housing economists use to define "cost burdened", before taxes, insurance, HOA fees, or PMI are factored in.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in Prairie Hill, Texas
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home in Prairie Hill, Texas. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
In Prairie Hill, Texas, the median homeowner with a mortgage pays approximately $1,404/month in total housing costs, covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $1,403/month including utilities. The $1/month difference between owning and renting is relatively narrow, worth factoring carefully into a rent vs. buy analysis given that owners also build equity over time. Property taxes alone account for $444/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
In Prairie Hill, Texas, 28.8% of homeowners with mortgages are cost burdened and 49.3% of renters are cost burdened. Renters face significantly higher burden rates than owners, a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. With an owner burden rate of 28.8% near the national average of 28.0%, this market reflects typical affordability conditions for mortgage holders.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
Prairie Hill, Texas Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s Prairie Hill, Texas rates. The home price is prefilled with the local median home value. Adjust anything, or click a current rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only, excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your Prairie Hill, Texas Home Loan
Rates are only part of the equation. Use these calculators to translate current Prairie Hill, Texas mortgage rates and home loan rates into real numbers for your specific situation before you request quotes from mortgage lenders.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Prairie Hill, Texas rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path: mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment, to show which option builds more wealth over your intended time horizon in Prairie Hill, Texas.
CalculateTypes of Mortgages Available in Prairie Hill, Texas
Not every loan program is right for every buyer in Prairie Hill, Texas. Rates, down payment requirements, eligibility rules, and long-term costs vary significantly across products, and the right choice depends on your credit profile, how long you plan to stay, and whether you qualify for any government-backed programs.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term. Your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s Prairie Hill, Texas rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period, commonly 5, 7, or 10 years, after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down, and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15% to 0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment, given ongoing home price trends in Prairie Hill, Texas, FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with, and often better than, conventional loan rates.
A one-time funding fee applies, 2.15% of the loan for first-time VA borrowers with no down payment, which can be financed into the loan. In Prairie Hill, Texas, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
The 2026 FHFA conforming loan limit for Prairie Hill, Texas is $832,750. Mortgages above that amount are classified as jumbo loans and are not eligible for purchase by Fannie Mae or Freddie Mac, which means lenders carry the full risk and price that risk accordingly.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10 to 20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Prairie Hill, Texas mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for Prairie Hill, Texas directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Prairie Hill, Texas. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in TX.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
Mortgage Product Information
How a Mortgage Works
A mortgage is a loan used to buy a home in Prairie Hill, Texas, secured by the property itself as collateral. The borrower repays the amount over a set term, most commonly 30 or 15 years, in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed vs. Adjustable Rate Mortgages
A fixed-rate mortgage keeps the same interest rate for the entire term, so a Prairie Hill, Texas homeowner’s principal-and-interest payment never changes. For example, Frost Bank is listing a Frost Progress Mortgage Options - 30-year fixed-rate (Income-based) at 5.75%. An adjustable-rate mortgage (ARM) starts with a fixed period, often five, seven, or ten years, and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they tend to suit Prairie Hill, Texas borrowers who expect to move or refinance before that point. On the adjustable-rate side, East Texas Professional Credit Union is listing a In-House Adjustable Rate Mortgage (ARM) - 5/1 ARM 30-Year at 5.25%.
How Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that national baseline, the rate a Texas borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why the advertised rates above are a starting point, and a borrower’s final rate is set once an application is underwritten.
Points and Closing Costs
The interest rate is not the only cost of buying a home in Prairie Hill, Texas. Discount points are an optional upfront fee (one point equals one percent of the loan amount) paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps Prairie Hill, Texas shoppers account for these costs when weighing lenders.
When to Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. For Prairie Hill, Texas homeowners, the general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home, known as the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate, or to remove mortgage insurance once enough equity has built up. Current Prairie Hill, Texas refinance rates from local lenders are listed on our refinance page.
Frequently Asked Questions about Mortgage Rates in Prairie Hill, Texas
What are mortgage rates in Prairie Hill, Texas today?
What are home loan rates in Prairie Hill, TX today?
How does my credit score affect my rate in Prairie Hill, Texas?
What is a 30-Year Fixed Mortgage?
What are closing costs in Prairie Hill, Texas?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in Prairie Hill, Texas?
Do I need 20% down to buy a house in Prairie Hill, Texas?
What is the difference between Interest Rate and APR?
How do I compare mortgage lenders in Prairie Hill, Texas?
How do I get mortgage quotes in Prairie Hill, Texas?
What is the homeownership rate in Prairie Hill, Texas?
What is the conforming loan limit in Prairie Hill, Texas?
What is the median monthly cost of homeownership in Prairie Hill, Texas?
What are the median property taxes in Prairie Hill, Texas?
What is the median rent in Prairie Hill, Texas?
What percentage of homeowners are cost burdened in Prairie Hill, Texas?
What percentage of renters are cost burdened in Prairie Hill, Texas?
What are the best Mortgage rates in Prairie Hill, Texas?
- Frost Bank: 5.75% (Frost Progress Mortgage Options - 30-year fixed-rate (Income-based))
- Chemcel Federal Credit Union: 6.054% (Home Mortgage Loans - 30 Year Fixed)
- Telco Plus Credit Union: 6.25% (Mortgage - 30 Year Fixed)
- Education First Federal Credit Union: 6.00% (30 Year Fixed Rate Mortgage)
- Houston Federal Credit Union: 6.625% (Mortgage Loan - 30 Year Fixed)
Prairie Hill, Texas Rates & Resources
