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Texas Mortgage Calculator

Your monthly mortgage payment in Texas, with Texas's effective property tax rate (1.49%) built in, at this week's average rate. The calculator starts at the state's median home value, $283,800.

A $284,000 home with 20% down ($227,200 borrowed) at 7.28% over 30 years costs about $2,074 a month: $1,555 principal and interest plus $520 of tax, insurance and dues.

Monthly payment
$2,074.07
Principal and interest
$1,554.53
Tax, insurance, PMI and HOA
$519.54
Total interest over the loan
$332,431
Loan balance and interest paid over 30 years at 7.28%$0$100k$200k$300k$400k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $227,200 at 7.28%
YearInterestPrincipalBalance
1$16,468.17$2,186.19$225,013.81
2$16,303.60$2,350.77$222,663.04
3$16,126.63$2,527.73$220,135.31
4$15,936.35$2,718.02$217,417.29
5$15,731.74$2,922.63$214,494.67
6$15,511.73$3,142.64$211,352.03
7$15,275.15$3,379.21$207,972.82
8$15,020.77$3,633.59$204,339.22
9$14,747.24$3,907.13$200,432.09
10$14,453.11$4,201.25$196,230.84
11$14,136.85$4,517.52$191,713.32
12$13,796.77$4,857.59$186,855.73
13$13,431.10$5,223.27$181,632.47
14$13,037.90$5,616.47$176,016.00
15$12,615.10$6,039.27$169,976.73
16$12,160.47$6,493.90$163,482.83
17$11,671.61$6,982.75$156,500.08
18$11,145.96$7,508.41$148,991.68
19$10,580.73$8,073.63$140,918.05
20$9,972.96$8,681.40$132,236.64
21$9,319.43$9,334.93$122,901.71
22$8,616.71$10,037.65$112,864.06
23$7,861.09$10,793.28$102,070.78
24$7,048.58$11,605.78$90,465.00
25$6,174.91$12,479.45$77,985.55
26$5,235.47$13,418.89$64,566.65
27$4,225.31$14,429.05$50,137.60
28$3,139.11$15,515.25$34,622.35
29$1,971.14$16,683.23$17,939.12
30$715.24$17,939.12$0.00

This week's mortgage rates →

Monthly payment in Texas by home price (20% down, 7%, 30 years, 1.49% tax, $2,000 insurance)

Home pricePrincipal and interestProperty taxTotal
$140,000$745$174$1,086
$210,000$1,118$261$1,545
$280,000$1,490$348$2,005
$430,000$2,289$534$2,990
$570,000$3,034$708$3,909

How this calculator works

As the mortgage calculator, with Texas's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $4,232 ÷ median value $283,800.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

Questions people ask

What is the mortgage payment on a median home in Texas?

On $283,800 with 20% down at 7% over 30 years: about $1,511 principal and interest and $353 of property tax, $2,030 a month with $2,000 a year of insurance.

What is the median home value in Texas?

$283,800 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Texas?

The effective rate is 1.49%, a median $4,232 a year. See Texas's property tax page for every county we cover.

How much income do I need for a median Texas home?

Under the 28% guideline, about $86,991 a year for the payment above; Texas's median household income is $78,476.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • Texas Property Tax CalculatorTexas homeowners pay a median $4,232 a year in property tax, 1.49% of a median $283,800 home: the 7th highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.