Compare today’s mortgage rates in Collin County
Homebuyers and homeowners in Plano, McKinney, Frisco, Allen, Richardson, and nearby cities can explore current mortgage rates for purchases and refinancing. Understanding today’s rates helps you plan your monthly payments, select the right loan term, and make informed decisions for your home in Collin County.
Get a quoteThese rates, APRs, monthly payments, and points are updated as of today but can change. They assume a FICO® Score of 780+ and the specified down payment for each loan type. Examples are for single-family primary residences, including the option to purchase up to one mortgage discount point for a lower interest rate. Consult a mortgage officer to explore personalized options.
Purchase Mortgage Rates
Conventional Fixed-Rate Loans
Conventional fixed-rate loans provide steady monthly payments with a fixed interest rate over 15, 20, or 30 years. Borrowers usually need 3–20% down. Private mortgage insurance may apply if the down payment is below 20%. Approval depends on credit score, closing costs, and appraisal.
Adjustable Rate Mortgages (ARMs)
ARMs in Collin County start with lower initial rates compared to fixed-rate loans. After the introductory period, rates adjust periodically. These are suitable for homeowners who may sell or refinance before adjustments or can handle potential payment changes.
FHA Loans
FHA loans are insured by the federal government, allowing lower down payments, usually 3.5%. They are accessible to borrowers with lower credit scores. Mortgage insurance is required, making them an option for buyers with less established credit in Collin County.
VA Loans
VA loans help eligible veterans, service members, and military families buy homes with no down payment and no mortgage insurance. These loans provide competitive rates and flexible credit requirements, making homeownership more achievable in Collin County.
Jumbo Loans
Jumbo loans finance properties above conventional limits. They require larger down payments, higher credit scores, and may carry slightly higher rates. They are ideal for buyers in high-cost Collin County areas seeking premium properties.
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Refinance Loans
Conventional Fixed-Rate Refinance
Refinancing into a conventional fixed-rate loan locks in stable payments. Typically, 20% equity is required to avoid private mortgage insurance. Final rates depend on credit score, appraisal, and closing costs.
Adjustable Rate Mortgage Refinance
Refinancing into an ARM can lower initial monthly payments. Rates adjust periodically after the introductory period, making ARMs suitable for homeowners planning to sell or refinance before changes occur.
FHA Refinance
FHA refinance programs allow homeowners to restructure existing loans, access equity, or lower payments. Mortgage insurance applies, but they are available to borrowers with lower credit scores seeking better terms in Collin County.
VA Refinance
VA refinance options, including IRRRL and cash-out, help eligible Collin County veterans and service members reduce interest rates or access home equity without a down payment or mortgage insurance.
Jumbo Refinance
Refinancing a jumbo mortgage can improve rates or access home equity. Collin County homeowners must meet higher credit and down payment requirements due to non-conforming loan limits.
Frequently asked questions about mortgage rates
1. Are mortgage rates the same throughout Collin County?
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2. What credit score is recommended for the best rates in Collin County?
3. Can first-time buyers in Collin County qualify for FHA loans?
4. When is refinancing a good option in Collin County?
5. Why are VA loans popular in Collin County?
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