Mortgage Rates in Pharr, Texas — March 2026
Updated March 2026 | Based on Pharr market data and regional lending conditions
Pharr is a growing city in Texas with a population of 79,912. The current 30-year fixed mortgage rate in Pharr is 6.7%, which is 0.05% above the national average. With a median home price of $135,000 and a 20% down payment of $27,000, homebuyers can expect a monthly principal and interest payment of approximately $697.
Current Mortgage Rates in Pharr, TX
Below are the current average mortgage rates available in the Pharr 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% |
Pharr Housing Market Overview
The Pharr housing market offers relatively affordable housing compared to many major cities. The median household income in Pharr is $32,250, and the cost of living index is 76.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $38,571 to comfortably afford the median-priced home in Pharr, which exceeds the current median household income.
Monthly Payment Breakdown for Pharr
Based on the median home price of $135,000 with 20% down ($27,000), here is what you can expect to pay monthly in Pharr:
15-Year vs. 30-Year Mortgage in Pharr
Choosing a 15-year mortgage in Pharr at 5.94% instead of a 30-year at 6.7% would save you $87,480 in total interest over the life of the loan. However, your monthly payment would be $908 instead of $697 — an increase of $211 per month.
Calculate Your Pharr 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 Pharr
What are the current mortgage rates in Pharr, TX?
As of March 2026, the average 30-year fixed mortgage rate in Pharr, 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 Pharr?
Based on the median home price of $135,000 with 20% down, the estimated monthly mortgage payment in Pharr is $697 for principal and interest. Including property taxes of $203/month, the total monthly housing cost is approximately $900.
What income do I need to buy a home in Pharr?
Using the 28% rule, you would need an annual income of approximately $38,571 to afford the median-priced home in Pharr at $135,000. The median household income in Pharr is $32,250. This means most households would need to either earn above the median or consider homes below $135,000.
Is Pharr a good place to buy a home in 2026?
Pharr offers a below-average cost of living with a cost of living index of 76.5 (national average = 100). The property tax rate in Texas is 1.8%, which is above the national average. Pharr has a population of 79,912 and offers a very affordable lifestyle.
Mortgage Rates in Other Texas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Pharr, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.