Mortgage Rates in Lamesa, Texas — March 2026
Updated March 2026 | Based on Lamesa market data and regional lending conditions
Lamesa is a growing city in Texas with a population of 9,422. The current 30-year fixed mortgage rate in Lamesa is 6.83%, which is 0.18% above the national average. With a median home price of $240,000 and a 20% down payment of $48,000, homebuyers can expect a monthly principal and interest payment of approximately $1,256.
Current Mortgage Rates in Lamesa, TX
Below are the current average mortgage rates available in the Lamesa 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 | 6.83% | 6.65% | +0.18% |
| 15-Year Fixed | 6.06% | 5.89% | +0.17% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.08% | 6.85% | +0.23% |
Lamesa Housing Market Overview
The Lamesa housing market offers relatively affordable housing compared to many major cities. The median household income in Lamesa is $54,700, and the cost of living index is 95 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $68,914 to comfortably afford the median-priced home in Lamesa, which exceeds the current median household income.
Monthly Payment Breakdown for Lamesa
Based on the median home price of $240,000 with 20% down ($48,000), here is what you can expect to pay monthly in Lamesa:
15-Year vs. 30-Year Mortgage in Lamesa
Choosing a 15-year mortgage in Lamesa at 6.06% instead of a 30-year at 6.83% would save you $159,480 in total interest over the life of the loan. However, your monthly payment would be $1,626 instead of $1,256 — an increase of $370 per month.
Calculate Your Lamesa 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 Lamesa
What are the current mortgage rates in Lamesa, TX?
As of March 2026, the average 30-year fixed mortgage rate in Lamesa, Texas is 6.83%, while the 15-year fixed rate is 6.06%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.18% above the national average of 6.65%.
How much is a monthly mortgage payment in Lamesa?
Based on the median home price of $240,000 with 20% down, the estimated monthly mortgage payment in Lamesa is $1,256 for principal and interest. Including property taxes of $352/month, the total monthly housing cost is approximately $1,608.
What income do I need to buy a home in Lamesa?
Using the 28% rule, you would need an annual income of approximately $68,914 to afford the median-priced home in Lamesa at $240,000. The median household income in Lamesa is $54,700. This means most households would need to either earn above the median or consider homes below $240,000.
Is Lamesa a good place to buy a home in 2026?
Lamesa offers a below-average cost of living with a cost of living index of 95 (national average = 100). The property tax rate in Texas is 1.76%, which is above the national average. Lamesa has a population of 9,422 and offers a balanced 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 Lamesa, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.