VA loans
Eligible veterans, service members and surviving spouses can use VA loans in Austin like anywhere in Texas, usually with no down payment and no monthly mortgage insurance.
Austin at a glance
- County
- Travis County, Williamson County, Hays County and Bastrop County
- Metro area
- Austin-Round Rock-San Marcos, TX
- Population (2024)
- 993,588 (+3.3% since 2020)
- Median home value
- $512,700 (Texas: $260,400)
- Land area
- 326.39 sq mi
- Nearest major city
- Round Rock, about 17 miles
- Nearest military installation
- Fort Cavazos, about 58 miles
Home prices in Austin
The median value of owner-occupied homes in Austin is about $512,700, above the Texas median of $260,400 and compared with $487,600 across Travis County.
Home loan options in Austin
USDA loans
Most of Austin is too populated for USDA Rural Development loans, but some surrounding areas near smaller communities like Rollingwood and West Lake Hills may qualify. Eligibility is set address by address on USDA's map.
FHA and conventional loans
FHA loans offer flexible credit guidelines and a low down payment, while conventional loans can work well for buyers with stronger credit. Both are available throughout Travis County, Williamson County, Hays County and Bastrop County.
Refinancing a home in Austin
A rate-and-term refinance can lower your rate or change your loan term without taking cash out. If you want to tap your equity, Texas treats any cash-out refinance of your homestead as a home equity loan under Section 50(a)(6) of the Texas Constitution: the new loan plus other debt on the home generally can't exceed 80% of its value, and closing waits at least 12 days after you apply and receive the required notice. Veterans may also use a VA streamline (IRRRL) refinance, and FHA borrowers an FHA streamline refinance.
Down payment help for Austin homebuyers
Buyers in Austin can apply for Texas state programs, including My First Texas Home, My Choice Texas Home, Texas Mortgage Credit Certificate, Homes for Texas Heroes, as well as programs run by Travis County or local housing agencies where available. Income, purchase price and eligibility rules apply.
Texas rules that apply in Austin
Texas cash-out refinance and home equity loans (Section 50(a)(6))
Texas has stricter home equity rules than any other state. They apply whenever you take cash out of your homestead, through a cash-out refinance or a home equity loan.
Property taxes, homestead exemptions and escrow
Texas has no state income tax and no state property tax, but local taxes set by counties, cities, school districts and special districts are among the higher rates in the country. Most lenders collect property taxes and homeowners insurance monthly in an escrow account.
Title insurance and closing
Title insurance premiums in Texas are set by the Texas Department of Insurance, so the base premium is the same at every title company. Closings usually take place at a title company.
Home loans near Austin
Austin mortgage FAQs
What is the median home value in Austin, Texas?
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About $512,700, based on the U.S. Census Bureau's 2019-2023 American Community Survey. The Texas median is $260,400 and the Travis County median is $487,600.
What county is Austin, TX in?
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Austin is mainly in Travis County, and also extends into Williamson County, Hays County, Bastrop County. Property taxes and the homestead exemption are handled by the appraisal district for the county where the home is located.
What is the conforming loan limit in Travis County?
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For 2026, the conforming loan limit for a one-unit home is $832,750, the same in every Texas county. Larger loans are jumbo loans.
Can I get a USDA loan in Austin?
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Most addresses inside Austin are not USDA-eligible because of its population, but some nearby rural areas may be. Eligibility depends on the exact address and your household income.
Can I do a cash-out refinance on a home in Austin?
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Yes, under Texas home equity rules (Section 50(a)(6)). Your new loan plus other debt on the home generally can't exceed 80% of its value, and the loan can't close until 12 days after you apply and receive the required notice. A rate-and-term refinance with no cash out isn't subject to these limits.
Ready to buy or refinance in Austin?
Talk with a licensed HomyLoan loan officer: Office (830) 200-0016 · Cell (817) 305-3724