Dallas's 698 metro credit score puts most borrowers in the 580+ (3.5% down) tier. With conventional at 66.2% and FHA at 22.4%, JPMorgan Chase's dual-track pre-approval — FHA and conventional simultaneously — is the standard Dallas approach when the score is near the 620 conventional cutoff.
Dallas, Texas: 2026 Market Data
📊 LOCAL MARKET DATA
- Median home price: $298,000
- Year-over-year price change: 5.1%
- FHA loan share: 22.4%
- Conventional loan share: 66.2%
- Property tax rate (Dallas County): 2.18%
- Top local lenders: JPMorgan Chase, Wells Fargo, Truist
Data from U.S. Census Bureau, HMDA, county assessor
FHA Loans in Dallas: 2026 Market Snapshot
FHA loans remain a meaningful path to homeownership in Dallas, accounting for 22.4% of the local lending market. That's a notable slice when you consider that conventional loans make up 66.2% of mortgages here, which tells you something about how buyers are approaching the current market. With the median home price in Dallas sitting at $298,000 and prices up 5.1% year over year, affordability is on a lot of people's minds, and FHA financing often appeals to first-time buyers or those working with smaller down payments. One factor you'll want to budget for is property taxes. Dallas County carries a property tax rate of 2.18%, which can add up quickly and should be part of your monthly payment math from the start, not an afterthought. If you're weighing an FHA loan, take the time to compare offers from several lenders, since terms and costs can vary more than people expect. Read the fine print on fees and mortgage insurance, and ask questions until the numbers make sense to you. Given how much a home purchase affects your finances, it's worth slowing down to understand exactly what you're signing before you commit.
$298,000 Median Home Price in Dallas: What That Means for Your Down Payment
At the median Dallas home price near $298,000, FHA's 3.5 percent minimum down payment translates to roughly $10,430—a figure that feels far more reachable than the 10 to 20 percent conventional loans often demand. For Dallas families saving while paying rent in neighborhoods like Lake Highlands or Far North Dallas, that gap can mean buying years sooner. Keep in mind that your down payment is only the starting line. Texas closing customs, escrow setup for property taxes, and homeowner's insurance all factor into your cash-to-close. Dallas buyers should also budget for the higher property tax escrow that lenders front-load at closing, since county rates run steep. Down payment assistance through Texas programs can cover part or all of that 3.5 percent for eligible first-time buyers. Before assuming you need a massive savings cushion, talk to a Dallas lender about layering gift funds, assistance grants, and seller concessions—all of which FHA permits within limits.
