Buying a home in Allandale: what to know before you finance
Allandale financing usually means a postwar house on a larger lot in central North Austin. Expect appraisal and inspection focus on age-related items, check the flood map for homes near Shoal Creek, and decide early whether you’ll remodel, rebuild or add a unit. Each choice changes the loan.
This page covers the housing you’ll see in Allandale, what each type means for a loan, price context, taxes and the programs that fit. For older homes closer to the University of Texas, see our Hyde Park page; for newer condos to the north, see Domain / North Austin. For citywide context, start on our Austin mortgage broker page.
Allandale at a glance
- Where it is. The Allandale Neighborhood Association describes the area as bounded by Burnet Road on the east, MoPac on the west, 45th Street on the south and West Anderson Lane on the north, with Shoal Creek running through it.
- Its roots. The land was part of an 1841 grant to George W. Davis for his service at the Battle of San Jacinto. The Davis family cemetery, a Texas Historical Cemetery, is still in the neighborhood.
- When it was built. Developer W. Murray Graham began platting the original sections of Allandale in 1946, followed by Allandale Oaks in 1951. Other developers platted sections such as Allandale Terrace, Allandale Park and Allandale West (1958).
Homes in Allandale: housing types and what each means for your loan
Postwar single-family homes. Given the platting dates, much of the housing dates from the late 1940s onward. At that age, inspections often flag foundation movement, older plumbing and electrical, and roof age. Those findings add conditions more often than denials. If you’ll fix them after closing, a rehab loan can fold the work into the loan.
Remodels and rebuilds. Updated and rebuilt homes sell next to original ones, so comparable sales can vary. Give the appraisal time. If you’ll tear down soon after closing, a construction loan or bridge loan may fit better than a purchase loan.
Second units. Austin’s HOME amendments, adopted in December 2023 and in effect since February 5, 2024, allow up to three housing units on lots zoned SF-1, SF-2 or SF-3, subject to City site standards. How those units are owned, as one property or split into a condo regime, decides which loan fits. Lenders count ADU rent only when the unit is permitted and the appraisal supports it.
Condos and townhomes. Condo and townhome projects get a project review: owner-occupancy, reserves, insurance and litigation. We request the HOA questionnaire early.
Shoal Creek flood risk. Shoal Creek has a long flood history. On Memorial Day 1981, parts of its watershed got 11 inches of rain in three hours, and Austin voters later approved drainage fees and bonds for flood control. Check the address on the FEMA Flood Map Service Center before you write an offer. If the home is in a special flood hazard area, the lender will require flood insurance.
Austin and Travis County prices (September 2026)
Neighborhood-level medians for Allandale aren’t in the public Unlock MLS release. The table shows the published citywide, countywide and metro figures. Ask your agent for an MLS pull on the exact streets and price band you’re shopping.
| Market | Median sale price | Change vs. Sept 2025 | Closed sales | Months of inventory | As of |
|---|---|---|---|---|---|
| City of Austin | $570,958 | +4.2% | 777 | 5.4 | September 2026 |
| Travis County | $497,400 | +2.6% | 1,031 | 5.8 | September 2026 |
| Austin–Round Rock–San Marcos metro | $421,000 | +1.4% | 2,223 | 5.4 | September 2026 |
Source: Unlock MLS, September 2026 Central Texas Housing Report (released Oct 13, 2026). Metro-wide, homes closed at an average of 92.7% of their original list price in September 2026.
The 2026 conforming limit and when you need a jumbo loan
FHFA set the 2026 baseline conforming loan limit for a one-unit home at $832,750. Travis County uses the baseline limits: $832,750 for one unit, $1,066,250 for two, $1,288,800 for three and $1,601,750 for four. A loan amount above the county limit is a jumbo loan, with its own down payment, reserve and documentation rules; see our jumbo loan page.
Property taxes and HOA dues in Allandale
Allandale homes are typically taxed by the City of Austin, Travis County, Austin ISD, Austin Community College and Central Health. Confirm the exact taxing units and appraised value on the Travis Central Appraisal District record for the address. For homes inside the City of Austin, the City’s adopted rate for fiscal 2026–27 is $0.579948 per $100 of taxable value. That’s one line of the bill; add the other entities from the TCAD record before you estimate a payment.
- Homestead exemption. If you live in the home, file your homestead exemption with the appraisal district after you close. Texas law exempts $140,000 of a homestead’s value from school district taxes, plus another $60,000 if you’re 65 or older or disabled (Tax Code §11.13). See the Texas Comptroller’s exemptions page.
- Homestead cap. Once your homestead exemption is in place, the taxable value of the home can’t rise more than 10% a year, plus the value of new improvements (Tax Code §23.23).
- Protest deadline. If you disagree with the appraisal, the protest deadline is generally May 15 or 30 days after the appraisal district mails your notice, whichever is later (Tax Code §41.44).
- After a remodel or rebuild, the home is reappraised on its improvements, so the seller’s tax bill can understate what you’ll pay.
Loan options that fit Allandale
Agency loans for owner-occupants
For buyers who’ll live in the home, conventional, FHA and VA loans are usually the starting point.
- Conventional loans for single-family homes, many condos and 2–4 unit properties.
- FHA loans for buyers who want a lower down payment. Condos must meet FHA project rules.
- VA loans for eligible veterans and service members, including 2–4 unit properties when you live in one unit.
- First-time buyer? Start on our first-time home buyer page.
Non-QM and DSCR loans for Allandale
Allandale buyers include business owners, retirees with savings and investors. Non-QM loans qualify you on something other than tax-return income. CapFi works with lenders across the non-QM range, and terms vary by lender.
- Bank statement loans qualify self-employed buyers on business or personal bank deposits instead of tax returns. They are non-QM loans and come in a range of loan sizes.
- P&L loans qualify on a profit-and-loss statement for business owners.
- Asset depletion turns savings and investments into qualifying income for buyers with assets but uneven pay.
- Interest-only loans lower the early payment for buyers whose income comes in larger, less regular amounts.
- DSCR loans qualify a rental on the property’s rent rather than your income. Austin short-term rentals need a City license; see the STR section on that page.
- 1099 loans qualify contractors and gig workers on their 1099 income.
How CapFi shops more than 50 wholesale lenders for Allandale buyers
A bank gives you its own rules. A broker can match the property and your income to a lender whose rules fit them. In Allandale that matters, because a postwar house with repairs, a rebuild plan or a jumbo loan amount can each narrow which lenders fit.
Here’s how we work a file:
- Property first. We look at inspection findings, any remodel, rebuild or ADU plan, the flood map and whether the loan amount is above the conforming limit.
- Income second. W-2, self-employed, rental income or assets: we pick the documentation path that shows your income most completely.
- Shop. We compare programs across more than 50 wholesale lenders and show you the options side by side. Any rate we quote comes with its APR.
- Manage to close. We order HOA or condo documents early, keep your agent updated and work the appraisal and underwriting conditions.
Allandale home loan FAQs
Do I need flood insurance in Allandale?
Only if the home is in a FEMA special flood hazard area; then the lender requires it. Homes near Shoal Creek are the ones to check first, given its flood history. Look up the address on the FEMA Flood Map Service Center before you write an offer, and price a policy either way.
When were Allandale homes built?
Mostly after World War II. W. Murray Graham began platting the original sections in 1946 and Allandale Oaks in 1951, and other developers platted sections such as Allandale West in 1958. Check year built and remodel history on each listing, since many homes have been updated.
Can I get a mortgage on an Allandale house that needs work?
Yes. Inspection findings such as foundation movement or older plumbing can add conditions but rarely block a loan. If you plan repairs after closing, a rehab loan can roll the cost into one mortgage, subject to program limits and the lender’s review of the scope.
Can I tear down and rebuild in Allandale with a mortgage?
Not usually with a standard purchase loan if you’ll demolish soon after closing, because most of the value is land. A construction loan or bridge loan often fits better. If you’ll live in the house first, a regular mortgage works and you can refinance later.
Do I need a jumbo loan in Allandale?
Only if your loan amount is above the conforming limit. In 2026 the Travis County limit for a one-unit home is $832,750. Above that, it’s a jumbo loan with stricter down payment and reserve rules. A larger down payment can keep some purchases conforming.
Can I add an ADU in Allandale and use the rent to qualify?
Possibly. Under Austin’s HOME amendments, lots zoned SF-1, SF-2 or SF-3 can have up to three units, subject to City standards. Lenders count ADU rent only when the unit is permitted and the appraiser supports a market rent. Plan the build and the financing together.
Can I qualify using savings instead of income?
Often, yes. An asset depletion loan turns eligible savings and investment balances into monthly qualifying income, which helps retirees and buyers with large assets but uneven pay. It is a non-QM program, so terms, rates and the assets that count vary by lender.
How do I lower property taxes on an Allandale home I live in?
File a homestead exemption with the Travis Central Appraisal District after you close. It removes $140,000 of value from school taxes and caps the yearly increase in taxable value at 10%, plus new improvements. You can also protest the appraisal by May 15 or 30 days after your notice.
Talk with a broker who knows Austin
Call or text (512) 593-1336, Monday through Saturday, 9 AM to 7 PM, or visit our Austin office by appointment. You’ll talk with me or my partner Clay Wilson, not a call center. Rated 4.9 on Google (79 reviews). Request a quote.
- CapFi Lending LLC
- Dustin Edwards, NMLS 577050
- Clay Wilson, NMLS 1849979
- NMLS Consumer Access
- Equal Housing Opportunity.
This is not a commitment to lend. All loans are subject to credit approval, underwriting and property eligibility. Program terms vary by lender and can change.
Sources (checked October 24, 2026)
Sources checked October 24, 2026. Every figure and history fact on this page traces to one of these.
- https://www.allandaleneighbor.com/history (boundaries; 1841 Davis grant for San Jacinto; Davis family cemetery; Graham platting 1946; Allandale Oaks 1951; Allandale West 1958 by other developers)
- https://en.wikipedia.org/wiki/Shoal_Creek,_Austin,_Texas (Memorial Day 1981 flood: 11 inches in 3 hours in parts of the watershed; drainage fee and bonds approved after)
- https://www.austintexas.gov/development-services/home-amendments (HOME Phase 1: up to three units on SF-1, SF-2 and SF-3 lots; adopted Dec 7, 2023; in effect Feb 5, 2024)
- https://msc.fema.gov/portal/home (FEMA flood maps, check by address)
- https://www.unlockmls.com/news/september-2026-central-texas-housing-report (September 2026 city, county and metro prices; released Oct 13, 2026)
- https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026 (2026 baseline $832,750 and 2–4 unit limits)
- https://www.austintexas.gov/budget-excellence/tax-rates (City of Austin FY2026–27 adopted rate $0.579948 per $100)
- https://traviscad.org/ (taxing units and values per address)
- https://comptroller.texas.gov/taxes/property-tax/exemptions/ (homestead exemption; $140,000 school exemption and $60,000 over-65/disabled, Tax Code §11.13)
- https://texas.public.law/statutes/tex._tax_code_section_23.23 (10% homestead appraisal cap)
- https://texas.public.law/statutes/tex._tax_code_section_41.44 (protest deadline: May 15 or 30 days after notice)