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Texas Mortgage Calculator

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This Texas mortgage calculator helps buyers estimate principal, interest, and monthly housing cost for homes in Texas. Enter purchase price, down payment, and rate, then add property tax and insurance—Texas has no state income tax, but property tax rates vary widely by county and can materially affect your payment.

Texas homebuyers frequently focus on the principal-and-interest quote, but property taxes are among the highest in the nation and are not capped at the state level the way some other states limit annual increases.

Insurance costs vary with wind, hail, and flood risk. Always verify tax and insurance with local quotes—this calculator uses your inputs and does not pull live Texas county rates.

100% Client-Side

Your data never leaves your computer.

How to use this tool

Enter the Texas home price, down payment, interest rate, and loan term. For property tax, check the county appraisal district or use roughly 1.5–2.5% of value annually depending on location. Add homeowners insurance—coastal and hail-prone areas often pay more.

Worked example

Example: $350,000 home in Texas with $70,000 down, 6.5% rate, 30-year term, $7,000/year property tax (~2%), and $2,100/year insurance gives roughly $1,866/month P&I plus about $758/month for tax and insurance—near $2,624 total.

When to use this

  • Budgeting for a home purchase in Austin, Dallas, Houston, or San Antonio.
  • Comparing tax burdens between two Texas counties.
  • Estimating payment after a homestead exemption (enter net tax if known).
  • Explaining total housing cost to an out-of-state relocator.

Common examples

  • Buying a $350,000 home with 20% down ($70,000), 6.5% APR, 30 years, $4,200/year tax and $1,800/year insurance → principal and interest near $1,770/month; total housing payment near $2,270/month before PMI.
  • Buying a $500,000 home with 10% down ($50,000), 7% APR, 30 years, $6,000/year tax, $2,400/year insurance, and $150/month HOA → P&I near $2,994/month; estimated total near $3,844/month.
  • First-time buyer: $275,000 home with 5% down ($13,750), 6.75% APR, 30 years, modest tax and insurance → P&I near $1,694/month; total near $2,094/month—PMI often applies below 20% down.
  • $425,000 home with 15% down, 6.75% APR, 30 years → P&I near $2,350/month before tax and insurance.
  • Refinance scenario: $280,000 remaining balance at 5.9% for 25 years → compare to current 6.5% payment on the same balance.

What people search for

Common mistakes

  • Using a national average tax rate instead of the specific county rate.
  • Forgetting Texas does not have transfer taxes but does have title and recording fees at closing.
  • Assuming homestead exemptions apply automatically without filing.
  • Underestimating windstorm or flood insurance on the Gulf Coast.

Related long-tail tasks

  • estimate Travis County property tax on new home
  • compare Houston vs Dallas monthly housing cost
  • calculate payment with texas homestead exemption
  • budget insurance in hail-prone north Texas
  • see payment on $400k home in Texas

How it works

Enter the home price, down payment, interest rate, and term. The calculator derives the loan amount and uses the standard amortizing loan formula for principal and interest. Optional annual property tax, home insurance, and monthly HOA fees are added to estimate a total monthly payment. Fees, PMI, and taxes beyond your inputs are not included.

Limitations

Monthly payment estimates exclude HOA, PMI changes, escrow adjustments, and property tax reassessments. Not a loan offer or pre-approval.

Privacy and file handling

Your data is processed in your browser and is not uploaded to our server.

Accuracy & methodology

This section documents how the calculator works, what it leaves out, and when results were last reviewed. Figures are educational estimates—not professional advice—and are not labeled "current" unless tied to automatically updated reference data.

Formula source or methodology
Loan amount = home price − down payment. Monthly principal & interest uses the standard amortizing loan payment formula (same as loan calculator). Optional annual property tax, insurance, and HOA are divided by 12 and added to P&I for total monthly housing payment.
Jurisdiction
General mortgage math (not country-specific underwriting rules)
Unit system
Currency for price, down payment, tax, insurance, HOA; years for term; percent for rate
Rounding method
Currency amounts round to two decimal places (half up via Math.round × 100 / 100).
Assumptions
  • Fixed annual interest rate for the full term
  • Level monthly payments (fully amortizing)
  • Down payment is a dollar amount, not a separate percent field
Known omissions
  • Not tax, legal, investment, or lending advice. Confirm material decisions with qualified professionals.
  • Origination fees, points, PMI/MIP, and lender-specific charges unless a field exists
  • Property taxes, insurance, and HOA unless explicitly entered
  • Prepayment penalties and variable or adjustable rates after the initial period
  • Tax deductibility of interest
Test cases (automated)
  • Typical home price, down payment, rate, and term return positive P&I and total interest
  • Down payment greater than home price is rejected
Version & last verified

Logic version 1.0. Content and formulas last verified .

Important notice

Results are estimates for educational purposes and are not financial advice. Taxes, insurance, HOA fees, and lender-specific costs may not be included. Consult a qualified financial professional for personal guidance.

Related Mortgage Calculator guides

These pages use the same mortgage calculator with guides tailored to specific search intents.

Frequently asked questions

Does Texas have a state income tax that affects mortgages?

Texas has no state income tax. Your mortgage payment still includes principal, interest, property tax, and insurance—property tax is often the largest non-loan component.

What property tax rate should I use for Texas?

Rates vary by county, city, and school district—often between 1.5% and 2.5% of assessed value annually. Check the local appraisal district for the address you are buying.

Is this calculator specific to Texas loan rules?

It uses standard amortization math. Texas has unique homestead and closing customs, but the monthly payment formula is the same—enter local tax and insurance for a Texas-specific estimate.

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