Mortgage Rates in Mineral Wells, Texas — March 2026
Updated March 2026 | Based on Mineral Wells market data and regional lending conditions
Mineral Wells is a growing city in Texas with a population of 15,596. The current 30-year fixed mortgage rate in Mineral Wells is 6.73%, which is 0.08% above the national average. With a median home price of $238,000 and a 20% down payment of $47,600, homebuyers can expect a monthly principal and interest payment of approximately $1,232.
Current Mortgage Rates in Mineral Wells, TX
Below are the current average mortgage rates available in the Mineral Wells 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 | 6.73% | 6.65% | +0.08% |
| 15-Year Fixed | 5.97% | 5.89% | +0.08% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.98% | 6.85% | +0.13% |
Mineral Wells Housing Market Overview
The Mineral Wells housing market offers relatively affordable housing compared to many major cities. The median household income in Mineral Wells is $65,400, and the cost of living index is 87.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $68,271 to comfortably afford the median-priced home in Mineral Wells, which exceeds the current median household income.
Monthly Payment Breakdown for Mineral Wells
Based on the median home price of $238,000 with 20% down ($47,600), here is what you can expect to pay monthly in Mineral Wells:
15-Year vs. 30-Year Mortgage in Mineral Wells
Choosing a 15-year mortgage in Mineral Wells at 5.97% instead of a 30-year at 6.73% would save you $154,800 in total interest over the life of the loan. However, your monthly payment would be $1,604 instead of $1,232 — an increase of $372 per month.
Calculate Your Mineral Wells 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 Mineral Wells
What are the current mortgage rates in Mineral Wells, TX?
As of March 2026, the average 30-year fixed mortgage rate in Mineral Wells, Texas is 6.73%, while the 15-year fixed rate is 5.97%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.08% above the national average of 6.65%.
How much is a monthly mortgage payment in Mineral Wells?
Based on the median home price of $238,000 with 20% down, the estimated monthly mortgage payment in Mineral Wells is $1,232 for principal and interest. Including property taxes of $361/month, the total monthly housing cost is approximately $1,593.
What income do I need to buy a home in Mineral Wells?
Using the 28% rule, you would need an annual income of approximately $68,271 to afford the median-priced home in Mineral Wells at $238,000. The median household income in Mineral Wells is $65,400. This means most households would need to either earn above the median or consider homes below $238,000.
Is Mineral Wells a good place to buy a home in 2026?
Mineral Wells offers a below-average cost of living with a cost of living index of 87.3 (national average = 100). The property tax rate in Texas is 1.82%, which is above the national average. Mineral Wells has a population of 15,596 and offers a very affordable lifestyle.
Mortgage Rates in Other Texas Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Mineral Wells, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.