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Texas mortgage calculator

Pre-filled for Texas: the median home value ($315,000) and the state's effective property tax rate of 1.31%. Change anything to match your home.

Home price
Down payment$63,000
%
Interest rateAPR, fixed
%
Loan term
Extra monthly paymenttoward principal
/ mo

Estimated monthly payment

$2,086.69

Loan $252,000 · 20% down

  • Principal & interest$1,592.81
  • Property tax$343.88
  • Home insurance$150.00
See the month-by-month schedule →
Total interest
$321,413
Total cost
$751,210
Payoff time
30 yr
PMI paid
None

Principal vs. interest by year

1: Principal 2,817, Interest 16,29712: Principal 3,005, Interest 16,1083: Principal 3,207, Interest 15,9074: Principal 3,421, Interest 15,69245: Principal 3,650, Interest 15,4636: Principal 3,895, Interest 15,2197: Principal 4,156, Interest 14,9588: Principal 4,434, Interest 14,68089: Principal 4,731, Interest 14,38310: Principal 5,048, Interest 14,06611: Principal 5,386, Interest 13,72812: Principal 5,747, Interest 13,3671213: Principal 6,132, Interest 12,98214: Principal 6,542, Interest 12,57215: Principal 6,980, Interest 12,13316: Principal 7,448, Interest 11,6661617: Principal 7,947, Interest 11,16718: Principal 8,479, Interest 10,63519: Principal 9,047, Interest 10,06720: Principal 9,652, Interest 9,4612021: Principal 10,299, Interest 8,81522: Principal 10,989, Interest 8,12523: Principal 11,725, Interest 7,38924: Principal 12,510, Interest 6,6042425: Principal 13,348, Interest 5,76626: Principal 14,242, Interest 4,87227: Principal 15,195, Interest 3,91828: Principal 16,213, Interest 2,9012829: Principal 17,299, Interest 1,81530: Principal 18,459, Interest 65630
PrincipalInterest

Amortization schedule by year

YearPrincipalInterestBalance
1$2,817$16,297$249,183
2$3,005$16,108$246,178
3$3,207$15,907$242,972
4$3,421$15,692$239,550
5$3,650$15,463$235,900
Monthly payment$2,086.69

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Texas at a glance

Effective property tax
1.31%
Rank (1 = highest)
8th of 51
Median home value
$313,200
Median tax bill
$4,108/yr

On the same $400,000 home, property tax in Texas adds about $436.67/month, versus $296.67/month at the national rate.

Texas mortgage payments by home price

Home pricePrincipal & interestProperty taxTotal / month
$150,000$758.48$163.75$1,072.23
$225,000$1,137.72$245.63$1,533.35
$325,000$1,643.38$354.79$2,148.17
$475,000$2,401.86$518.54$3,070.40
$625,000$3,160.34$682.29$3,992.63

20% down, 6.5% 30-year fixed (example rate), 1.31% property tax, $1,800/yr insurance, no HOA. Also see: how much house you can afford in Texas.

Mortgage calculators for other states

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • Texas figures: Effective rate = ACS median real estate taxes paid ÷ ACS median value, owner-occupied housing units, by state. Source: US Census Bureau ACS 2024.

Frequently asked questions

What is the property tax rate in Texas?+

The effective property tax rate in Texas is about 1.31% of home value a year (median taxes paid $4,108 on a median home worth $313,200). That's the 8th highest of 50 states and DC, and higher than the national 0.89%. Your actual bill depends on your county, city and exemptions.

What's the mortgage payment on a median-priced home in Texas?+

For a $315,000 home with 20% down at an example 6.5% 30-year rate, the payment is about $2,086.69 a month, including $343.88 of property tax and $150.00 of insurance.

How much income do I need to buy a home in Texas?+

To afford the median Texas home ($315,000) under the 28/36 guideline with 10% down and no other debts, you'd need roughly $104,000 a year in gross income at a 6.5% rate.

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Last reviewed October 14, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.