Ft. Worth’s housing market is in a strange situation. Even though Texas, Florida, and California are together responsible for 46% of the nation’s population growth, homes are not selling in Fort Worth. Texas ranks 45th among the 50 states when it comes to number of homes sold. The Fort Worth Realtors Association blames this phenomenon on high property taxes. They believe that housing sales would improve if the property tax laws were altered.
Quick Fort Worth Housing Facts
Percent of Homeowners in Fort Worth: 63.8%
Percent of Renters in Fort Worth: 36.2%
Median Fort Worth Household Income: $19,617
Average Fort Worth Credit Score: 651
Best Cities to Live in Texas: Colleyville, Boerne
Median Fort Worth Home Value: $82,500
How Much Real Estate Can I Afford in Fort Worth?
Do words like Adjustable Rate, Escrow, or APR frighten you? Do they delay your entrance into the housing market? Don’t let them. Owning a home is not only financially rewarding, but personally rewarding as well. If all that’s stopping you from entering the Fort Worth housing market is fear, then you’ve come to the right place. Most people are scared to enter the market because they don’t understand it, or how they fit into it. Fortunately, we can offer you a little help. First, take a little time to fill out the following questionnaire.
- How much am I willing to spend on monthly mortgage payments? If you currently rent, keep in mind that mortgage payments will probably be a little more than rent payments.
- What kind of payment plan will work well for me? Fixed Rate and Adjustable Rate programs are very popular, so you may want to consider those first.
- What are the property taxes like in Fort Worth?
- What are the interest rates in the area of Fort Worth I want to live in?
Next, check out our online mortgage calculators. We have oodles, and hey can really help you get a numeric idea of your position in the housing market.
Once you’ve completed those steps, we’re confident that you will feel more confident about entering the housing market.
Refinancing in Fort Worth
People refinance because they want better mortgage terms and/or rates. If the current interest rate is 2% or more below the rate you are currently paying, think very seriously about refinancing. It could save you bundles on your monthly payments, and you could start building equity more quickly.
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.