Rates as of November 4, 2026
· Avg Texas property tax: 1.95%
· Avg annual home insurance: $4,480
Today’s 30-year fixed refinance rate in Texas is 6.990% (7.293% APR), and a 15-year is 6.490% (6.973% APR). On a typical $261,000 Texas loan, that’s about $1,735 a month in principal and interest over 30 years or $2,272 over 15.
These figures use a typical Texas home price of $373,000 (the average of the median prices in its largest cities) and a loan at 70% of that value. Your numbers depend on your balance, your home’s value and your credit.
How much could you save by refinancing in Texas?
Monthly savings on a $261,000 balance if you refinance into today’s 30-year fixed rate of 6.990% (7.293% APR), by the rate you have now. If your current rate is at or below about 6.990%, a rate-and-term refinance at today’s rate won’t lower your payment; a cash-out refinance may fit better if you need cash.
| Your current rate |
Payment now |
New payment |
Monthly savings |
Break-even |
| 7.500% |
$1,825 |
$1,735 |
$90 |
87 months |
| 8.000% |
$1,915 |
$1,735 |
$180 |
44 months |
| 8.500% |
$2,007 |
$1,735 |
$272 |
29 months |
Principal and interest only, comparing 30-year payments on the same $261,000 balance. New payment at 6.990% (7.293% APR) with 2.300 discount points. Break-even divides the points and lender fees built into that APR (about $7,796 on this loan) by the monthly savings; title, appraisal and other third-party closing costs add to that (try our refinance break-even calculator with your own numbers). Restarting a 30-year term can mean more total interest even when the payment drops.
Refinance payments in Texas's largest cities
Estimated monthly cost after refinancing a loan at 70% of each city’s median home price into today’s 30-year fixed rate of 6.990% (7.293% APR), with local property taxes and homeowners insurance.
| City |
Median price |
Loan (70%) |
Principal & interest |
Taxes & insurance |
Total monthly |
| Houston |
$315,000 |
$221,000 |
$1,469 |
$1,062 |
$2,530 |
| San Antonio |
$315,000 |
$221,000 |
$1,469 |
$815 |
$2,284 |
| Dallas |
$419,000 |
$293,000 |
$1,947 |
$1,081 |
$3,029 |
| Fort Worth |
$354,656 |
$248,000 |
$1,648 |
$1,017 |
$2,665 |
| Austin |
$529,000 |
$370,000 |
$2,459 |
$965 |
$3,424 |
| El Paso |
$305,580 |
$214,000 |
$1,422 |
$855 |
$2,277 |
Principal and interest at 6.990% (7.293% APR) (30-year conforming refinance). Median prices from Movoto market trends, September 2026.
15-year vs. 30-year refinance in Texas
On a typical $261,000 Texas loan, a 15-year refinance costs about $537 more a month than a 30-year, but saves about $215,499 in interest over the life of the loan.
| Loan term |
Rate (APR) |
Principal & interest |
Total interest |
| 30-year fixed | 6.990% (7.293% APR) | $1,735 | $363,487 |
|---|
| 15-year fixed | 6.490% (6.973% APR) | $2,272 | $147,988 |
|---|
Conforming refinance rates for Texas as of November 4, 2026. Total interest assumes you keep the loan for the full term and make every scheduled payment. Taxes and insurance are the same for either term.
Refinance options in Texas by loan type
The examples above assume you’re refinancing into a conventional loan. If you have an FHA or VA loan, owe more than the conforming limit, or want to take cash out, one of these options may fit better.
If you have an FHA loan
Refinance an existing FHA loan with limited credit documentation and often no appraisal. FHA mortgage insurance still applies.
If you have a VA loan
The VA’s Interest Rate Reduction Refinance Loan lowers your rate with less paperwork than a standard refinance, with no monthly mortgage insurance.
If you owe more than $832,750
A balance above the county’s 2026 conforming loan limit refinances into a jumbo loan.
If you need cash
A cash-out refinance replaces your loan with a larger one and pays you the difference. Texas limits a homestead cash-out refinance to 80% of your home’s value.
Texas refinance FAQs
What are refinance rates in Texas today?
As of November 4, 2026, Lower’s 30-year fixed refinance rate in Texas is 6.990% (7.293% APR) and the 15-year is 6.490% (6.973% APR). FHA refinances start at 6.750% (7.571% APR) and VA refinances at 6.500% (6.857% APR). Your rate depends on your credit, equity, loan amount and points.
When does refinancing make sense in Texas?
When the monthly savings pay back your closing costs before you sell or refinance again. On a typical $261,000 Texas loan, going from 8.000% to today’s 6.990% (7.293% APR) saves about $180 a month, and the points and lender fees in today’s quote (about $7,796) take about 44 months to recover. Compare the new term too: restarting at 30 years can add interest even when the payment drops.
Do Houston, San Antonio or Dallas have higher conforming loan limits?
No. Every Texas county uses the same $832,750 limit for a one-unit home in 2026. A refinance above the limit is a jumbo loan, priced today at 6.875% (7.131% APR) for 30 years.
Can I refinance a VA loan in Texas?
Yes. If your current mortgage is VA-backed, a VA Interest Rate Reduction Refinance Loan (IRRRL) can lower your rate with less paperwork than a standard refinance. Lower’s 30-year VA refinance rate in Texas is 6.500% (6.857% APR) today. VA and lender requirements apply.
Related Texas mortgage pages
Movoto market trends data, September 2026, for each city. Cities are the state's largest by Census Bureau population estimates (Vintage 2024) among cities with Movoto data; where a city has too few sales, the next-busiest markets by homes sold fill in. Conforming loan limits: FHFA, 2026. Property tax estimates use county effective rates from the American Community Survey; homeowners insurance estimates are average annual premiums from The Zebra; your quote will vary. Rates as of November 4, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, down payment, loan type and other factors.
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