Selling Your DeSoto Home With a 3% Mortgage? Here Is What 7.28% Does to Your Next Payment (2026)

By Steven J. Thomas

You locked a 3.25% loan on your DeSoto home in 2021. This week Freddie Mac put the 30-year fixed rate at 7.28%. That gap is why a lot of homeowners who need more room are staying put. The gap is a real cost. It is also one number in a bigger plan.

Direct answer

Trading a 3.25% mortgage for a 7.28% one adds about $485 a month on the same $242,686 balance, based on current conditions. That is a cost, not a verdict. If you need the space, the question is whether your equity, a builder rate incentive, or a different loan structure brings the number down enough to make the move work.

What moved this week

Freddie Mac's survey on October 1, 2026 put the 30-year fixed rate at 7.28%, up from 7.03% the week before and 6.34% a year ago (Freddie Mac, October 1, 2026). In DeSoto, Redfin's July 2026 data shows a median sale price of $332,334, down 8.1% from a year earlier, with homes selling in about 44 days at 98.3% of list price (Redfin, DeSoto).

The rate gap in dollars

This is an illustration, not a quote. You borrowed $270,000 at 3.25% on a 30-year loan. About five years of payments later, your balance is near $242,700.

• Your payment now: about $1,175 a month in principal and interest
• The same $242,700 balance at 7.28%: about $1,660 a month

That is about $485 more every month, or roughly $5,800 a year, for the same loan size. It is the cost of the rate alone, before you add a bigger house.

What the sale puts in your hands

Say your DeSoto home sells at the July median, $332,334. Subtract the $242,700 payoff and you have about $89,600 in equity. Commission, closing costs and repairs vary. At an illustrative 6%, about $19,900, you walk away with roughly $69,700.

Put that toward a $450,000 new build and you finance about $380,300. At 7.28%, principal and interest is about $2,602 a month. That is the real comparison: $1,175 today against $2,602 for a larger new build with a builder warranty. Only you can decide what the extra room is worth. The math at least shows you the price.

Four ways to move that number

• Borrow less. Every $10,000 you do not finance lowers principal and interest by about $68 a month at 7.28%. Your sale proceeds are the biggest lever you have.
• Ask what the builder incentive can be applied to. Lenders cap how much of a builder or seller contribution can go toward your rate or closing costs, so a headline number is not always the usable number.
• Price the sale to the net, not to an online estimate. Zillow cannot see your kitchen, your roof or your payoff. A walk-through can.
• Check what kind of loan you hold. FHA and VA loans are assumable, which means a qualified buyer may take over your 3.25% rate with lender approval and cover the gap between your balance and the price. Conventional loans generally cannot be assumed. Most buyers do not have $89,600 in cash, so it narrows your pool, but it can make your home stand out to the right one.

Where most agents stop

Most agents focus on the house and hand you off to a lender when you find the next one. I hold a real estate license and a loan officer license, so I run the sale and the next loan as one plan before you list. You see the payment, the equity and the timing together. Review your home selling options to see which path fits your move.

FAQ: selling a DeSoto home with a low mortgage rate

Can I take my 3.25% rate to a new home?

No. Mortgage rates do not move with you. A new home means a new loan at the rate available when you close, unless a buyer assumes your loan.

How do I know if my loan is assumable?

Check your loan type. FHA and VA loans can be assumed with approval. Most conventional loans cannot. Your servicer can confirm in writing.

How much equity do I have?

Estimated sale price, minus your payoff, minus selling costs. Get the payoff from your servicer and the price from a walk-through, not an online estimate.

Should I wait for rates to come down?

Nobody can promise where rates go. Freddie Mac's 30-year rate was 6.34% a year ago and 7.28% now. Waiting also costs you another year in a home that no longer fits, and builder incentives change on their own schedule.

Can I refinance later if rates fall?

Often yes, if you qualify. Refinancing has closing costs, so run the break-even point before you decide.

What will it cost me to sell?

It varies by sale price, commission terms, repairs and closing costs. Ask for a net sheet before you list so you see the number you keep.

What to do next

The rate is one number. Your equity, your timeline and the size of the next loan decide whether the move works. Based on current conditions, run the whole plan before you list.

Get your free Home Wealth Report and see how much equity your DeSoto home holds before you decide.

Steven J. Thomas is a licensed Texas real estate broker with Refind Realty DFW (TREC Broker License #0657467) and a loan officer with Envision Home Lenders (NMLS #689220). The figures above are illustrations only, not a price opinion, loan offer or legal advice. Rates change daily. Nothing here guarantees a price, timeline or outcome. Payment examples assume 30-year fixed loans, principal and interest only, with no taxes, insurance, mortgage insurance or APR calculated. Selling costs shown are illustrative. Your actual terms depend on your credit, loan program and lock date. Equal Housing Opportunity. Equal Housing Lender.

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