Smart Mortgage Calculator helps buyers and homeowners see principal, interest, taxes, insurance, PMI, and HOA together — then dig into the scenario that matches their loan. Specialized calculators model refinance break-even, FHA upfront and annual MIP, and ARM intro vs. stress payments. State and county selectors add local tax and insurance context.
Formulas and assumptions are documented on our methodology page. Estimates are educational — confirm pricing with a licensed lender.
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Specialized calculators
Each tool uses scenario-specific math — not just swapped defaults on the same payment form.
Choose a state and county to load local tax and insurance defaults. County also drives FHA and conforming loan-limit context used on specialized calculators.
Median home price
$350,000
Property tax rate
1.60%
Est. insurance
$2,400/yr
Select county for FHA limit
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Texas market guide
Local tax, insurance, program, and payment context for the location you selected — county defaults refine the calculator; the guide remains state-level.
Housing market snapshot
Texas spans high-growth metros (Dallas - Fort Worth, Austin, Houston, San Antonio) and far more affordable secondary markets. No state income tax shifts more of the housing cost into property taxes and insurance. With an indicative median near $350,000, Texas sits in the middle of the national price distribution. Small rate changes move the payment more than many first-time buyers expect.
Property taxes and homestead notes
Texas's average effective property tax rate of roughly 1.60% ranks among the higher statewide averages nationally. On a median-priced home, taxes can rival or exceed the insurance line item in your payment. Texas property taxes are among the higher effective rates nationally. Homestead exemptions (general, over-65, disability) and appraisal caps for homesteads can help - file with your county appraisal district.
Homeowners insurance
Indicative average homeowners insurance around $2,400/year is elevated versus many states. Treat insurance shopping as part of your offer strategy, not an afterthought. Hail in North Texas, wind/hurricane on the Gulf Coast, and rising premiums statewide make insurance a first-class budget item. Percentage wind/hail deductibles are common.
Worked payment example
Using Texas's indicative median of $350,000, a 20% down payment of $70,000, a 6.75% rate, and local tax/insurance defaults, principal and interest is about $1,816 with a full monthly payment near $2,483 (including roughly $467 tax and $200 insurance). With only 5% down ($17,500), the same price point jumps to about $2,976 per month because the loan is larger and PMI is typically required — roughly $152 of that total.
A common comfort check is keeping total housing cost near 28% of gross income. At $2,483/month, that implies ballpark gross income around $106,403 per year before other debts. Run your real income and debts through our home affordability calculator rather than relying on this rule of thumb alone.
Texas State Affordable Housing Corporation / TDHCA programs
Local bond and DPA programs in major metros
VA loans widely used near large military installations
Practical tips
File for homestead exemption after closing - it materially affects escrow.
Get insurance quotes before option periods expire, especially on the coast.
Model MUD/PID taxes in suburban master-planned communities.
Figures on this page are educational estimates for Texas, not a lender quote. County tax assessors, insurance agents, and licensed mortgage professionals can confirm the numbers for a specific address. See our methodology page for the formulas and assumptions behind every estimate.
Common questions about estimating a mortgage payment in Texas, including local tax and insurance context.
What is the average property tax rate in Texas?
Texas's indicative average effective property tax rate is about 1.60% of home value per year. On a $350,000 home, that is roughly $5,600 annually, usually collected monthly through escrow. Your county bill can differ — and homestead programs may reduce what you owe.
How much is a typical mortgage payment in Texas?
On the indicative median of $350,000 with 20% down, local tax/insurance defaults, and a 6.75% rate, a full monthly payment is about $2,483. Your quote will differ with price, credit, loan type, and exact escrow items.
Does this calculator include Texas homeowners insurance?
Yes. We default to an indicative Texas average near $2,400 per year ($200/month). Replace it with a real quote for your address — especially if you need wind, hurricane, wildfire, or flood endorsements.
What assistance programs should Texas buyers know about?
Texas State Affordable Housing Corporation / TDHCA programs. Also explore: Local bond and DPA programs in major metros; VA loans widely used near large military installations. Program rules change — confirm eligibility with the agency or a participating lender.
Current US Mortgage Rates
30-year fixed
6.69%
As of August 6, 2026
15-year fixed
6.01%
As of August 6, 2026
National averages from the Freddie Mac Primary Mortgage Market Survey, published weekly through the Federal Reserve (FRED). Your quoted rate may differ based on credit, down payment, and loan type.
National averages from the Freddie Mac Primary Mortgage Market Survey, published weekly through the Federal Reserve (FRED). Your quoted rate may differ based on credit, down payment, and loan type.
