Mortgage Rates in Waco, Texas — March 2026
Updated March 2026 | Based on Waco market data and regional lending conditions
Waco is a growing city in Texas with a population of 138,486. The current 30-year fixed mortgage rate in Waco is 6.7%, which is 0.05% above the national average. With a median home price of $215,000 and a 20% down payment of $43,000, homebuyers can expect a monthly principal and interest payment of approximately $1,110.
Current Mortgage Rates in Waco, TX
Below are the current average mortgage rates available in the Waco 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% |
Waco Housing Market Overview
The Waco housing market offers relatively affordable housing compared to many major cities. The median household income in Waco is $38,250, and the cost of living index is 83.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $61,414 to comfortably afford the median-priced home in Waco, which exceeds the current median household income.
Monthly Payment Breakdown for Waco
Based on the median home price of $215,000 with 20% down ($43,000), here is what you can expect to pay monthly in Waco:
15-Year vs. 30-Year Mortgage in Waco
Choosing a 15-year mortgage in Waco at 5.94% instead of a 30-year at 6.7% would save you $139,320 in total interest over the life of the loan. However, your monthly payment would be $1,446 instead of $1,110 — an increase of $336 per month.
Calculate Your Waco 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 Waco
What are the current mortgage rates in Waco, TX?
As of March 2026, the average 30-year fixed mortgage rate in Waco, 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 Waco?
Based on the median home price of $215,000 with 20% down, the estimated monthly mortgage payment in Waco is $1,110 for principal and interest. Including property taxes of $323/month, the total monthly housing cost is approximately $1,433.
What income do I need to buy a home in Waco?
Using the 28% rule, you would need an annual income of approximately $61,414 to afford the median-priced home in Waco at $215,000. The median household income in Waco is $38,250. This means most households would need to either earn above the median or consider homes below $215,000.
Is Waco a good place to buy a home in 2026?
Waco offers a below-average cost of living with a cost of living index of 83.5 (national average = 100). The property tax rate in Texas is 1.8%, which is above the national average. Waco has a population of 138,486 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 Waco, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.