Texas Mortgage Calculator 2026
Last updated: May 2026 · Data: Tax Foundation, Zillow Research, FHFA, III
Texas Mortgage Calculator
Pre-filled with Texas's median home price ($315,000), average property tax (1.68%), and average homeowner's insurance ($3,500/yr). Adjust to match your specific situation.
Loan Details
Optional Costs
Varies by location; avg ~1.1% of home value
Typically $800–$2,000/year for most homes
Leave $0 if no HOA applies
Monthly Payment Breakdown
Monthly Payment (PITI)
$2,522.62
Principal & Interest
$2,022.62
P&I portion
Tax + Insurance
$500.00
Escrow portion
Loan Amount
$320,000.00
After down payment
Payment Composition
- Home Insurance
- Principal & Interest
- Property Tax
Balance & Amortization
Balance & Equity Over Time
- Home Equity
- Remaining Balance
Loan Amount
$320,000
Total Interest
$408,142
Total Cost
$728,142
Amortization Schedule
30-year loan · 360 total payments
| Year | Start Balance | Principal | Interest | End Balance | Cum. Interest |
|---|---|---|---|---|---|
Year 1 | $320,000 | $3,577 | $20,695 | $316,423 | $20,695 |
Year 2 | $316,423 | $3,816 | $20,455 | $312,607 | $41,150 |
Year 3 | $312,607 | $4,072 | $20,200 | $308,535 | $61,349 |
Year 4 | $308,535 | $4,345 | $19,927 | $304,191 | $81,276 |
Year 5 | $304,191 | $4,636 | $19,636 | $299,555 | $100,912 |
Year 6 | $299,555 | $4,946 | $19,325 | $294,609 | $120,238 |
Year 7 | $294,609 | $5,277 | $18,994 | $289,332 | $139,232 |
Year 8 | $289,332 | $5,631 | $18,641 | $283,701 | $157,873 |
Year 9 | $283,701 | $6,008 | $18,264 | $277,694 | $176,136 |
Year 10 | $277,694 | $6,410 | $17,861 | $271,284 | $193,998 |
Year 11 | $271,284 | $6,839 | $17,432 | $264,444 | $211,430 |
Year 12 | $264,444 | $7,297 | $16,974 | $257,147 | $228,404 |
Year 13 | $257,147 | $7,786 | $16,485 | $249,361 | $244,889 |
Year 14 | $249,361 | $8,308 | $15,964 | $241,053 | $260,853 |
Year 15 | $241,053 | $8,864 | $15,407 | $232,189 | $276,260 |
Year 16 | $232,189 | $9,458 | $14,814 | $222,732 | $291,074 |
Year 17 | $222,732 | $10,091 | $14,180 | $212,641 | $305,255 |
Year 18 | $212,641 | $10,767 | $13,505 | $201,874 | $318,759 |
Year 19 | $201,874 | $11,488 | $12,784 | $190,386 | $331,543 |
Year 20 | $190,386 | $12,257 | $12,014 | $178,129 | $343,557 |
Year 21 | $178,129 | $13,078 | $11,193 | $165,051 | $354,750 |
Year 22 | $165,051 | $13,954 | $10,317 | $151,097 | $365,068 |
Year 23 | $151,097 | $14,888 | $9,383 | $136,208 | $374,451 |
Year 24 | $136,208 | $15,886 | $8,386 | $120,323 | $382,837 |
Year 25 | $120,323 | $16,949 | $7,322 | $103,373 | $390,159 |
Year 26 | $103,373 | $18,085 | $6,187 | $85,289 | $396,345 |
Year 27 | $85,289 | $19,296 | $4,976 | $65,993 | $401,321 |
Year 28 | $65,993 | $20,588 | $3,683 | $45,405 | $405,004 |
Year 29 | $45,405 | $21,967 | $2,305 | $23,438 | $407,309 |
Year 30 | $23,438 | $23,438 | $833 | $0 | $408,142 |
Click any year to expand monthly detail
Buying a Home in Texas: What You Need to Know
Texas trades income tax for property tax — and the math doesn't always favor homeowners. With no state income tax, Texas funds its schools almost entirely through property levies averaging 1.68% of assessed value. On the $315,000 statewide median home, that's $5,292 per year — or $441 per month — just in property taxes before a dollar goes toward paying down your loan.
Homeowner's insurance compounds the cost. Texas faces a relentless rotation of weather threats: Gulf Coast hurricanes along Corpus Christi, Houston, and Galveston; catastrophic hail in the Dallas-Fort Worth Metroplex and Hill Country; tornadoes across North and West Texas; and the devastating winter freeze of 2021 that demonstrated how quickly pipes and foundations can fail statewide. Insurance premiums average $3,500/year — among the highest in the nation — and significantly more in coastal and flood-prone ZIP codes.
Texas law adds quirks that affect mortgage strategy. Under Article XVI, Section 50 of the Texas Constitution, cash-out refinancing is capped at 80% of the home's appraised value, and you can complete only one equity loan in a 12-month period. On the positive side, the homestead exemption was raised to $100,000 off school district appraised value in 2023 — a meaningful reduction in annual tax liability once you file with your county appraisal district.
For first-time buyers, TSAHC (Texas State Affordable Housing Corporation) offers 5% down payment grants and competitive 30-year rates through the Homes for Texas Heroes and Home Sweet Texas programs — no repayment required on the grant. TDHCA (Texas Department of Housing) runs the My First Texas Home program with up to 5% in forgivable down payment assistance. Income and purchase price limits apply.
Texas Housing Cost Data
| Metric | Value |
|---|---|
| Median Home Price | $315,000 |
| Effective Property Tax Rate | 1.68% |
| Est. Annual Property Tax | $5,292 |
| Avg. Annual Home Insurance | $3,500 |
| Avg. Monthly HOA (communities) | $165/mo |
| 2025 Conforming Loan Limit | $806,500 |
| Est. Monthly PITI (20% down, 6.99%) | $2,408/mo |
Last updated: May 2026. Data reflects statewide averages and estimates. Individual properties vary significantly. Always verify with a licensed lender.
Worked Example: Buying a Home in Texas
Using Texas's median home price of $315,000, here's what your monthly payment looks like at two common down payment levels.
Estimates use Texas's statewide averages for property tax (1.68% rate) and homeowner's insurance ($3,500/yr). Actual payments vary by county, lender, credit score, and loan type. Rates shown are illustrative; verify current rates with a licensed lender. Last updated: May 2026.
First-Time Buyer Programs in Texas
TSAHC Homes for Texas Heroes
5% down payment grant + 30-year fixed rate for teachers, first responders, veterans, nurses
Learn moreTDHCA My First Texas Home
30-year fixed-rate mortgage with up to 5% assistance for down payment and closing costs
Learn moreFrequently Asked Questions: Texas Mortgage
Texas has no state income tax, so local governments — especially school districts — rely heavily on property taxes to fund services. The combined rate on most Texas homes (school district + county + city + special districts) ranges from 1.5% to 2.5%+ depending on location. Within the DFW Metroplex, rates around 2.2%–2.5% are common. On a $400,000 home in Frisco (Collin County), you might pay $9,000–$10,000/year in property taxes. This is why Texas PITI payments often feel surprisingly high compared to what a bare P&I estimate suggests. Always get the full estimated property tax before committing to a purchase.
Sources & Methodology
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