Is Now a Good Time to Buy a Home in DFW? What Plano Homebuyers Are Asking Right Now
If you’ve been sitting on the fence about buying a home in the Dallas-Fort Worth area, you’re not alone. In fact, right now is one of the most searched topics among Texas homebuyers: Is 2026 a good time to buy?
The short answer: yes — and here’s why the data backs it up.
After years of frenzied competition, sky-high prices, and lightning-fast closings, the DFW market has shifted meaningfully in buyers’ favor. Let’s answer the questions we’re hearing most often from homebuyers in Plano, Frisco, McKinney, Allen, and across North Texas.
“Are home prices dropping in DFW?”
This is the number one question hitting our inbox right now — and the answer is nuanced.
Home values across DFW have seen modest softening in 2026, with some outer-ring communities like McKinney, Frisco, and Prosper seeing the most pricing flexibility as pandemic-era inventory works through the system. Closer-in neighborhoods with tighter supply are holding their value better.
The takeaway for buyers: zip code matters more than the metro headline. If you’ve been eyeing a specific neighborhood, now is the right time to call us and get a real picture of what’s happening on your street — not just the county average.
“What are mortgage rates right now in Texas?”
As of late May 2026, the average 30-year fixed mortgage rate is sitting at 6.53%, according to Freddie Mac’s Primary Mortgage Market Survey. That’s meaningfully lower than the 6.72% we saw a year ago — and forecasts suggest rates could move into the upper 5% range by year-end if the Federal Reserve follows through on expected cuts and the Iran war really ends.
Here’s the perspective that matters most: you marry the house; you date the rate.
Buyers who wait for the “perfect” rate often watch home prices move higher in the meantime. The smarter play is to buy in today’s buyer-friendly market and refinance when rates drop — something we’ve helped hundreds of Texas families do over the past 25 years. Buyer friendly could mean seller paid closing cost and rate buy downs.
“How much do I need to put down to buy a home in Plano?”
One of the biggest myths we bust every week: you do not need 20% down to buy a home. Check out my First-Time Homebuyer and Zero Down Mortgage program page here.
Here’s a quick breakdown of your real options:
- FHA Loan — As little as 3.5% down. Great for buyers with credit scores starting at 580.
- FHA Loan – 100% financing options are also available to most buyers with upper income limits and first-time home buyers’ status.
- Conventional Loan — As little as 3% down with qualifying credit.
- VA Loan — 0% down for eligible veterans and active military. One of the best programs available.
- USDA Loan — 0% down for qualifying rural and suburban areas (some parts of the DFW metro qualify).
- Doctor Home Loans — Specialized low-down-payment programs for physicians and medical professionals with student loan debt.
- Down Payment Assistance Programs — Texas offers several state and local DPA programs that can cover part or all of your down payment. Ask us which ones you qualify for.
The right down payment strategy depends entirely on your situation — cash in the bank, credit score, income type, and long-term goals. That’s exactly what we help you figure out before you ever make an offer.
“What credit score do I need to buy a home?”
Minimum scores by loan type:
| Loan Type | Minimum Credit Score |
|---|---|
| FHA Loan | 580 (with 3.5% down) 500 with 10% down |
| Conventional | No minimum but lower scores need higher down payments |
| VA Loan | Typically 500 with no late payments in the last 24 months |
| Jumbo Loan | 660+ |
But here’s what most online calculators won’t tell you: your credit score is a starting point, not a verdict. We regularly help buyers improve their scores by 20–40 points in 60–90 days using targeted credit strategies before they apply. A small bump in your score can translate to thousands of dollars in interest savings over the life of your loan. With our new VantageScore credit report option, we are seeing some buyers with 100 points higher than FICO Scores.
“Is DFW still a good place to buy in 2026?”
Absolutely. Here’s why the long-term case for DFW homeownership has never been stronger:
Population growth continues. People and businesses keep relocating to North Texas for the job market, no state income tax, and quality of life. That sustained demand is the foundation of long-term home value.
It’s officially a buyer’s market. Homes are sitting on the market an average of 61–71 days right now — compared to days during the pandemic peak. That means more time to negotiate, more motivated sellers, and more opportunity to ask for closing cost credits or repairs.
Inventory is at a decade high. More choices means you don’t have to settle. You can take your time and find the right home instead of panic-buying whatever is available.
Locking in now protects you from rental volatility. More than half of DFW homebuyers surveyed in 2026 reported taking on additional work to afford housing. Owning locks in your housing payment — rent only goes up.
“How do I get pre-approved for a mortgage in Texas?”
This is where we come in. Getting pre-approved is faster and easier than most buyers expect — and in a market where you finally have negotiating power, walking in pre-approved is still the single biggest advantage you can have.
Here’s what the process looks like with the Richard Woodward Team:
- Quick application — Online or by phone, takes about 15 minutes
- Document review — Pay stubs, W-2s, tax returns, bank statements
- Credit pull — We use a soft pull first to protect your score
- Pre-approval letter — Typically issued within 24 hours
- Loan scenario comparison — We show you side-by-side options across our network of 180+ lenders so you can choose the best fit
The Bottom Line for DFW Buyers in June 2026
The market has shifted. Sellers are negotiating. Rates are the lowest they’ve been in two years and trending lower. Inventory is plentiful. If you’ve been waiting for the right moment — this is it.
The buyers who act thoughtfully in a cooling market consistently outperform those who wait for the mythical “perfect” conditions. And with an experienced mortgage team guiding your financing, you go in confident, competitive, and protected.
Ready to find out exactly what you qualify for? Call Richard Woodward and the team today at (214) 945-1066 or visit my Getting Started Page for a free, no-obligation mortgage consultation.
Richard Woodward | NMLS #217454 | Nexa Mortgage | Plano, Texas Serving buyers across Texas, Colorado, Oklahoma, and Kentucky
