Mortgage Rates in Big Spring, Texas — March 2026
Updated March 2026 | Based on Big Spring market data and regional lending conditions
Big Spring is a growing city in Texas with a population of 27,282. The current 30-year fixed mortgage rate in Big Spring is 6.64%, which is 0.01% below the national average. With a median home price of $291,000 and a 20% down payment of $58,200, homebuyers can expect a monthly principal and interest payment of approximately $1,493.
Current Mortgage Rates in Big Spring, TX
Below are the current average mortgage rates available in the Big Spring 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 | 6.64% | 6.65% | -0.01% |
| 15-Year Fixed | 5.9% | 5.89% | +0.01% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Big Spring Housing Market Overview
The Big Spring housing market offers relatively affordable housing compared to many major cities. The median household income in Big Spring is $61,400, and the cost of living index is 84.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $83,829 to comfortably afford the median-priced home in Big Spring, which exceeds the current median household income.
Monthly Payment Breakdown for Big Spring
Based on the median home price of $291,000 with 20% down ($58,200), here is what you can expect to pay monthly in Big Spring:
15-Year vs. 30-Year Mortgage in Big Spring
Choosing a 15-year mortgage in Big Spring at 5.9% instead of a 30-year at 6.64% would save you $186,120 in total interest over the life of the loan. However, your monthly payment would be $1,952 instead of $1,493 — an increase of $459 per month.
Calculate Your Big Spring 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 Big Spring
What are the current mortgage rates in Big Spring, TX?
As of March 2026, the average 30-year fixed mortgage rate in Big Spring, Texas is 6.64%, while the 15-year fixed rate is 5.9%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% below the national average of 6.65%.
How much is a monthly mortgage payment in Big Spring?
Based on the median home price of $291,000 with 20% down, the estimated monthly mortgage payment in Big Spring is $1,493 for principal and interest. Including property taxes of $463/month, the total monthly housing cost is approximately $1,956.
What income do I need to buy a home in Big Spring?
Using the 28% rule, you would need an annual income of approximately $83,829 to afford the median-priced home in Big Spring at $291,000. The median household income in Big Spring is $61,400. This means most households would need to either earn above the median or consider homes below $291,000.
Is Big Spring a good place to buy a home in 2026?
Big Spring offers a below-average cost of living with a cost of living index of 84.5 (national average = 100). The property tax rate in Texas is 1.91%, which is above the national average. Big Spring has a population of 27,282 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 Big Spring, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.