30-Year Fixed Mortgage Refinance Interest Rates in Dallas, TX
Explore 30-year fixed mortgage refinance rates in Dallas, TX over time.
6.626%6.63%
6.666%6.67%
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in Dallas, Texas
Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in TX, total loan amount of $228,000.
| Lender | APR / Rate | Monthly Payment | |
|---|---|---|---|
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
What refinancing looks like in Dallas at today's rates
The median home in Dallas costs about $649,900. Refinancing a typical balance of $519,920 (80% of that value) at today's average 30-year fixed rate in Texas of 6.63% works out to roughly $3,329/month in principal and interest, with $678,681 of total interest over the 30-year term.
Here is how the monthly payment and break-even point change if you wait for (or negotiate) a lower rate, assuming closing costs of $12,998 (2.5% of the loan):
| Rate | Monthly P&I | Monthly savings | Break-even |
|---|---|---|---|
| 6.63% (today) | $3,329 | — | — |
| 6.38% (−0.25%) | $3,244 | $85/mo | 153 months |
| 6.13% (−0.50%) | $3,159 | $170/mo | 77 months |
| 5.88% (−0.75%) | $3,076 | $253/mo | 52 months |
| 5.63% (−1.00%) | $2,993 | $336/mo | 39 months |
Estimates use principal and interest only and today's average Texas rate; they exclude taxes, insurance, and rate differences from credit score or loan size.
Weighing the term itself? At today's Texas average 15-year fixed rate of 5.74%, the same $519,920 balance costs $4,315/month over 15 years — $986/month more than the 30-year fixed option, but with $421,958 less interest paid over the life of the loan.
Should I Refinance to 30-Year to Eliminate PMI in Dallas?
Absolutely-if you're paying PMI, refinancing to 30-year in Dallas's growing market can eliminate it permanently. PMI costs 0.5-1.5% of your loan annually ($433-$650/month). With 5.7% appreciation, if you purchased 2-3 years ago with less than 20% down, you've likely crossed 20% equity. Refinancing a $519,920 loan removes PMI even if you get the same 30-year rate. Combine with a rate reduction (7%→6% saves $342/month) and eliminate $433/month PMI for total savings of $775/month.
How Quickly Can I Build Equity with a 30-Year Refi in Dallas?
The 30-year term builds equity through both principal paydown and Dallas's 5.7% appreciation. On a $519,920loan at 6%, you'll pay down approximately $10,398 in principal the first year. Add Dallas's $37,044 annual appreciation, and your total equity grows $47,443/year. After 5 years: $237,214 in combined equity. The 30-year term keeps payments low ($3,117 P&I + $975 property tax) while growth accelerates equity.
When Should I Refinance to 30-Year in Dallas's Growing Market?
Refinance when: 1) Rates drop 0.75%+ below your current rate, 2) You've built 20% equity to eliminate PMI, or 3) You want lower payments while Dallas's 5.7% appreciation builds equity. Don't wait for perfect timing-on a $519,920 loan, even a 0.5% improvement saves $173/month. With $12,998 closing costs, break-even is 75 months on a 7%→6.5% refi. Growing markets favor refinancing sooner since equity buildup accelerates over time.
Should I Use 30-Year Cash-Out Refi for Home Improvements in Dallas?
Strategic in growing markets where improvements compound with appreciation. With 5.7% growth, a $50k kitchen remodel doesn't just add immediate value-it appreciates with your home. If you have $194,970 equity on Dallas's $649,900 median home, you can access up to $64,990 while keeping 20% equity. Cash-out 30-year rates are 0.25-0.5% higher, but the extended term keeps payments manageable: adding $50k to a $519,920 loan at 6.5% increases payment only $316/month.
How Do Dallas's Property Taxes Affect 30-Year Refi Savings?
Property taxes at 1.8% add $975/month to Dallas's median home payment. When refinancing to 30-year, remember: your P&I payment decreases (7%→6% saves $342/month on $519,920), but property tax stays constant. Your total PITI drops from $4,584 to $4,242. Also note: as your home appreciates 5.7% annually, assessed value may increase, gradually raising property tax over the 30-year term. Factor this into long-term budgeting.
Build Long-Term Stability with 30-Year Refinancing in Dallas
Dallas's premium prices mean your Loan-to-Value (LTV) ratio is your most important metric when sitting at the negotiating table.
With values growing a steady 6.4%, your equity is building reliably. If your LTV dips below 80%, you can negotiate much better rates. If you bought in recent years with a small down payment, this steady growth might be exactly what you need to remove your Private Mortgage Insurance (PMI).
Property Tax Tip for Dallas Homeowners
A nearly $12k tax bill is a massive monthly escrow hit. When refinancing, rolling your closing costs into your new loan can free up the liquid cash you need to comfortably float those steep property tax assessments.
Texas Refinance Programs for Dallas Residents
TSAHC (Texas State Affordable Housing Corporation) is the gold standard for hero programs. Look into their "Homes for Texas Heroes" if you are a teacher, firefighter, or veteran, as you may qualify for specialized rates or Mortgage Credit Certificates (MCC) to help offset those high Texas property taxes.
How Dallas compares across Texas
Median home prices vary widely across Texas, which changes what a typical refinance costs. Here is the estimated monthly principal and interest on a median-priced home (80% loan-to-value) at today's average 30-year fixed rate of 6.63%:
| City | Median home price | Est. monthly P&I | vs. Dallas |
|---|---|---|---|
| Dallas | $649,900 | $3,329 | — |
| Houston | $425,000 | $2,177 | −$1,152/mo |
| Austin | $325,000 | $1,665 | −$1,664/mo |
| Fort Worth | $325,000 | $1,665 | −$1,664/mo |
Estimates use each city's median home price with the same statewide average rate; actual quotes vary by lender, credit profile, and loan size.