Mortgage Rates in McKinney, Texas — March 2026
Updated March 2026 | Based on McKinney market data and regional lending conditions
McKinney is a growing city in Texas with a population of 195,308. The current 30-year fixed mortgage rate in McKinney is 6.7%, which is 0.05% above the national average. With a median home price of $445,000 and a 20% down payment of $89,000, homebuyers can expect a monthly principal and interest payment of approximately $2,297.
Current Mortgage Rates in McKinney, TX
Below are the current average mortgage rates available in the McKinney area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.3% | 6.25% | +0.05% |
| VA | 6.1% | 6.05% | +0.05% |
| Jumbo | 6.9% | 6.85% | +0.05% |
McKinney Housing Market Overview
The McKinney housing market reflects moderate demand with prices near the national average. The median household income in McKinney is $102,825, and the cost of living index is 102.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $127,071 to comfortably afford the median-priced home in McKinney, which exceeds the current median household income.
Monthly Payment Breakdown for McKinney
Based on the median home price of $445,000 with 20% down ($89,000), here is what you can expect to pay monthly in McKinney:
15-Year vs. 30-Year Mortgage in McKinney
Choosing a 15-year mortgage in McKinney at 5.94% instead of a 30-year at 6.7% would save you $288,180 in total interest over the life of the loan. However, your monthly payment would be $2,993 instead of $2,297 — an increase of $696 per month.
Calculate Your McKinney Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in McKinney
What are the current mortgage rates in McKinney, TX?
As of March 2026, the average 30-year fixed mortgage rate in McKinney, Texas is 6.7%, while the 15-year fixed rate is 5.94%. FHA loans average 6.3% and VA loans 6.1%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in McKinney?
Based on the median home price of $445,000 with 20% down, the estimated monthly mortgage payment in McKinney is $2,297 for principal and interest. Including property taxes of $668/month, the total monthly housing cost is approximately $2,965.
What income do I need to buy a home in McKinney?
Using the 28% rule, you would need an annual income of approximately $127,071 to afford the median-priced home in McKinney at $445,000. The median household income in McKinney is $102,825. This means most households would need to either earn above the median or consider homes below $445,000.
Is McKinney a good place to buy a home in 2026?
McKinney has a moderate cost of living with a cost of living index of 102.5 (national average = 100). The property tax rate in Texas is 1.8%, which is above the national average. McKinney has a population of 195,308 and offers a balanced lifestyle.
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the McKinney, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.