Rinnovare Realty
(832) 445-4957

Houston, Texas · Real Estate Financing

Navigate Your
Mortgage
with Confidence

Understanding your financing options is the single most powerful step you can take before buying a home. Rinnovare Realty guides Houston buyers through every financing scenario — from first-time buyer assistance programs to jumbo luxury loans — with clarity and no pressure.

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Live Market Data

Texas Mortgage Rates

Rates sourced from Freddie Mac, Bankrate Texas, and Zillow Home Loans. Updated monthly. Updated March 2026.

Most Popular
6.38%
30-Year Fixed
▲ Trending higher
Best Monthly Payment
5.75%
15-Year Fixed
▲ Trending higher
Adjustable Rate
6.38%
7/1 ARM
● Stable
Veteran Benefit
6.10%
VA 30-Year Fixed
● Stable

Sources: Freddie Mac PMMS (week ending 3/26/2026) · Bankrate Texas · Zillow Home Loans TX · Mortgage News Daily. Rates shown are Texas market averages for borrowers with excellent credit (780+ FICO), 20% down payment, and conforming loan amounts. Rates change daily. Contact Rinnovare Realty at (832) 445-4957 for a personalized rate quote.

Credit Score Impact

How Your Credit Score Affects Your Rate

A 100-point difference in credit score can mean 1%+ difference in your interest rate — translating to tens of thousands of dollars over the life of your loan.

780+ ExceptionalBest available rates · All loan products · Lowest PMI costs · Fastest approvals
740–779 Very GoodNear-best rates · All conventional products available · Standard PMI if under 20% down
700–739 GoodCompetitive rates · Conventional loans available · Higher PMI · Min 620 for conventional
640–699 FairFHA loans recommended · Higher rates apply · Larger down payment may help · FHA min 580
580–639 Needs WorkFHA available at 580 with 3.5% down · Significant rate premium · Credit repair recommended
Loan Types

Which Mortgage Is Right for You?

Houston buyers have access to a full spectrum of loan products. Here’s what you need to know about each one.

🏦
Conventional Loan
Most common — 62% of Houston buyers
The standard loan for buyers with solid credit and stable income. Offers the widest range of terms and the best rates for well-qualified borrowers. PMI required if down payment is less than 20%, removable once you reach 20% equity.
Min Score
620+
Down
3–20%
Max DTI
<45%
🏛
FHA Loan
Ideal for first-time buyers
Government-backed and more accessible for buyers with lower credit scores or smaller down payments. Trade-off is mortgage insurance premium (MIP) for the life of the loan for most borrowers.
Min Score
580+
Down
3.5%
Max DTI
57%
🎖
VA Loan
Exclusive benefit for eligible military
No down payment, no PMI, and competitive rates for eligible veterans, active-duty service members, and qualifying surviving spouses. The VA funding fee can be rolled into the loan.
Score
No Min
Down
$0
PMI
None
🏠
USDA Loan
Katy, Cypress & Spring areas
No down payment for qualifying buyers in eligible rural and suburban areas. Parts of Katy, Cypress, Spring, and outer Fort Bend County may qualify. Income limits apply.
Min Score
640+
Down
$0
Income
Limits
💎
Jumbo Loan
River Oaks, West U, Memorial
Finance properties above the conforming loan limit ($766,550 in 2026). Common in Houston’s luxury submarkets. Require stronger credit, larger down payments, and lower DTI ratios.
Min Score
700+
Down
10–20%
Amount
$766K+
📅
Adjustable Rate (ARM)
Lower initial rate — plan to move or refi
Fixed rate for an initial period (5, 7, or 10 years) then adjusts annually. Currently 6.38% for a 7/1 ARM in Texas. Best for buyers who plan to sell or refinance before the adjustment period begins.
Rate
6.38%
Fixed
5–10 yr
After
Annual

Mortgage Calculator

Estimate Your Monthly Payment

Estimate your principal and interest payment. Property taxes, homeowners insurance, and HOA fees are additional.

$2,227
Estimated Monthly Payment
Loan Amount$360,000
Down Payment$90,000
Total Interest Paid$441,939
Total Cost of Loan$801,939

Add ~$700–$1,200/mo for property taxes, insurance, and HOA. Harris County average effective property tax rate: 2.13%.

Getting Ready

How to Prepare for Your Houston Mortgage

The buyers who close fastest and at the best rates are those who prepare before they start shopping.

Documents to Gather
  • Last 2 years of federal tax returns (all pages)
  • W-2s and/or 1099s for past 2 years
  • Last 30 days of pay stubs
  • Last 60 days of all bank statements
  • Investment and retirement account statements
  • Government-issued photo ID
  • Social Security number
  • If self-employed: business tax returns + P&L
  • If divorced: final divorce decree and alimony documentation
Credit Preparation
  • Check your credit report at AnnualCreditReport.com (free)
  • Dispute any errors immediately — takes 30–60 days
  • Pay down credit card balances below 30% utilization
  • Do NOT open new credit accounts in the 6 months before applying
  • Do NOT close old credit accounts
  • Keep all existing accounts current — no late payments
  • Avoid large purchases on credit during the process
  • Target 780+ FICO for the best available rates
Financial Preparation
  • Determine your down payment source and document it
  • Down payment gifts must be documented with a gift letter
  • Keep down payment funds in bank for 60+ days
  • Budget for closing costs: 2–5% of purchase price
  • Build emergency reserve: 3–6 months of mortgage payments
  • Calculate your DTI: total monthly debt / gross income <45%
  • Avoid changing jobs during the loan process if possible
  • Do NOT move large sums between accounts without documentation

Assistance Programs

Texas & Houston First-Time Buyer Financing Programs

Significant assistance is available for qualified buyers in Houston and across Texas.

City of Houston
Homebuyer Assistance Program (HAP)
Up to $50,000 in down payment assistance for income-qualified buyers within Houston city limits. No credit score requirement. First-come, first-served. Income limit: 80% of Area Median Income.
State of Texas · TDHCA
My First Texas Home
30-year fixed-rate mortgage with up to 5% down payment assistance. Available statewide to first-time buyers. Income limits $100K–$130K depending on county. Compatible with FHA, VA, and USDA loans.
State of Texas · TDHCA
My Choice Texas Home
Same benefits as My First Texas Home — but available to ALL buyers, not just first-timers. Up to 5% DPA on a 30-year fixed-rate mortgage. Income limits apply. Excellent option for repeat buyers.
Federal · FHA
FHA 203(k) Renovation Loan
Finance the purchase AND renovation of a home in a single loan. Ideal for buyers targeting fixer-uppers in Houston’s inner-loop neighborhoods like Montrose, Heights, or Midtown. Minimum 3.5% down.
State of Texas · VLB
Texas Veterans Land Board (VLB)
Texas-specific program for veterans — separate from and in addition to federal VA benefits. Offers competitive home purchase loans and land loans to Texas veterans. Available through VLB-approved lenders statewide.
Fort Bend County
Fort Bend DPA Programs
Fort Bend County offers down payment assistance for buyers in Sugar Land, Missouri City, and surrounding areas. Income-qualified buyers may receive significant assistance. Ask Rinnovare for current availability.

Our Team

Talk to Rinnovare Realty About Financing

We’re not lenders — but we can connect you with the right lender for your specific situation. No commissions, no kickbacks. Just the right referral for your needs.

Daniel LaRusso
Daniel LaRusso
Broker / Owner
📞 (832) 445-4957
larusso@rrealty.us
Jumbo loans · Investor financing · Luxury market

Nora Vega
Nora Vega
REALTOR®
📞 (832) 445-4957
noravega@rrealty.com
First-time buyers · FHA/VA · Assistance programs

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