Texas Mortgage Calculator

Texas mortgage and refinance loan payment calculator

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Our Texas mortgage calculator enables you to estimate your monthly mortgage payment, including the following:

  • Principal and interest
  • Taxes
  • Insurance
  • Private Mortgage Insurance (PMI)

Your monthly payment changes when updating the home price, down payment, interest rate, and loan term.

Housing affordability continues to fluctuate across Texas. The housing trends vary in the Lone Star State, with larger communities exhibiting higher home prices than smaller, more rural areas. Even within Houston, San Antonio, Dallas, the market varies among neighborhoods. Each area will have a slightly different trend such as Harris County, Dallas County and Tarrant County.

$

10%

1%

3%

$
$

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

We've included the conforming loan amounts and the estimated property tax rates for each county. This is important because mortgage interest rates are significantly different for home loans above the amounts listed. Please check with your loan officer, bank, lender to verify the conforming loan amounts in your county.

County

Property tax rate

Conforming limit

Anderson County

1.41%

$548,250

Angelina County

1.44%

$548,250

Aransas County

1.15%

$548,250

Atascosa County

1.48%

$548,250

Austin County

1.35%

$548,250

Bandera County

1.37%

$548,250

Bastrop County

1.73%

$548,250

Bee County

1.27%

$548,250

Bell County

1.83%

$548,250

Bexar County

1.97%

$548,250

Bowie County

1.50%

$548,250

Brazoria County

2.00%

$548,250

Brazos County

1.81%

$548,250

Brown County

1.44%

$548,250

Burnet County

1.35%

$548,250

Caldwell County

1.71%

$548,250

Cameron County

1.76%

$548,250

Cass County

1.27%

$548,250

Chambers County

1.42%

$548,250

Cherokee County

1.36%

$548,250

Collin County

1.94%

$548,250

Comal County

1.34%

$548,250

Cooke County

1.61%

$548,250

Coryell County

1.73%

$548,250

Dallas County

1.93%

$548,250

Denton County

1.90%

$548,250

Ector County

1.29%

$548,250

El Paso County

2.24%

$548,250

Ellis County

1.67%

$548,250

Erath County

1.51%

$548,250

Fannin County

1.33%

$548,250

Fayette County

1.12%

$548,250

Fort Bend County

2.22%

$548,250

Galveston County

1.79%

$548,250

Gillespie County

1.01%

$548,250

Gray County

1.42%

$548,250

Grayson County

1.53%

$548,250

Gregg County

1.45%

$548,250

Grimes County

1.15%

$548,250

Guadalupe County

1.67%

$548,250

Hale County

1.52%

$548,250

Hardin County

1.18%

$548,250

Harris County

2.03%

$548,250

Harrison County

1.16%

$548,250

Hays County

1.97%

$548,250

Henderson County

1.27%

$548,250

Hidalgo County

2.05%

$548,250

Hill County

1.51%

$548,250

Hockley County

1.71%

$548,250

Hood County

1.27%

$548,250

Hopkins County

1.48%

$548,250

Houston County

1.19%

$548,250

Howard County

1.22%

$548,250

Hunt County

1.63%

$548,250

Jasper County

1.07%

$548,250

Jefferson County

1.74%

$548,250

Jim Wells County

1.34%

$548,250

Johnson County

1.57%

$548,250

Kaufman County

1.88%

$548,250

Kendall County

1.46%

$548,250

Kerr County

1.26%

$548,250

Kleberg County

1.85%

$548,250

Lamar County

1.43%

$548,250

Liberty County

1.54%

$548,250

Limestone County

1.42%

$548,250

Lubbock County

1.78%

$548,250

Matagorda County

1.32%

$548,250

Maverick County

1.43%

$548,250

McLennan County

1.77%

$548,250

Medina County

1.40%

$548,250

Midland County

1.46%

$548,250

Milam County

1.35%

$548,250

Montgomery County

1.80%

$548,250

Nacogdoches County

1.00%

$548,250

Navarro County

1.56%

$548,250

Nueces County

1.87%

$548,250

Orange County

1.34%

$548,250

Palo Pinto County

1.48%

$548,250

Panola County

1.04%

$548,250

Parker County

1.61%

$548,250

Polk County

1.21%

$548,250

Potter County

1.79%

$548,250

Randall County

1.69%

$548,250

Rockwall County

1.95%

$548,250

Rusk County

1.09%

$548,250

San Jacinto County

1.14%

$548,250

San Patricio County

1.78%

$548,250

Shelby County

0.95%

$548,250

Smith County

1.37%

$548,250

Starr County

1.02%

$548,250

Tarrant County

2.10%

$548,250

Taylor County

1.52%

$548,250

Titus County

1.35%

$548,250

Tom Green County

1.46%

$548,250

Travis County

1.82%

$548,250

Upshur County

1.20%

$548,250

Uvalde County

1.50%

$548,250

Val Verde County

1.46%

$548,250

Van Zandt County

1.25%

$548,250

Victoria County

1.76%

$548,250

County

Tax Rate

Limit

Anderson County

1.41%

$548,250

Angelina County

1.44%

$548,250

Aransas County

1.15%

$548,250

Atascosa County

1.48%

$548,250

Austin County

1.35%

$548,250

Bandera County

1.37%

$548,250

Bastrop County

1.73%

$548,250

Bee County

1.27%

$548,250

Bell County

1.83%

$548,250

Bexar County

1.97%

$548,250

Bowie County

1.50%

$548,250

Brazoria County

2.00%

$548,250

Brazos County

1.81%

$548,250

Brown County

1.44%

$548,250

Burnet County

1.35%

$548,250

Caldwell County

1.71%

$548,250

Cameron County

1.76%

$548,250

Cass County

1.27%

$548,250

Chambers County

1.42%

$548,250

Cherokee County

1.36%

$548,250

Collin County

1.94%

$548,250

Comal County

1.34%

$548,250

Cooke County

1.61%

$548,250

Coryell County

1.73%

$548,250

Dallas County

1.93%

$548,250

Denton County

1.90%

$548,250

Ector County

1.29%

$548,250

El Paso County

2.24%

$548,250

Ellis County

1.67%

$548,250

Erath County

1.51%

$548,250

Fannin County

1.33%

$548,250

Fayette County

1.12%

$548,250

Fort Bend County

2.22%

$548,250

Galveston County

1.79%

$548,250

Gillespie County

1.01%

$548,250

Gray County

1.42%

$548,250

Grayson County

1.53%

$548,250

Gregg County

1.45%

$548,250

Grimes County

1.15%

$548,250

Guadalupe County

1.67%

$548,250

Hale County

1.52%

$548,250

Hardin County

1.18%

$548,250

Harris County

2.03%

$548,250

Harrison County

1.16%

$548,250

Hays County

1.97%

$548,250

Henderson County

1.27%

$548,250

Hidalgo County

2.05%

$548,250

Hill County

1.51%

$548,250

Hockley County

1.71%

$548,250

Hood County

1.27%

$548,250

Hopkins County

1.48%

$548,250

Houston County

1.19%

$548,250

Howard County

1.22%

$548,250

Hunt County

1.63%

$548,250

Jasper County

1.07%

$548,250

Jefferson County

1.74%

$548,250

Jim Wells County

1.34%

$548,250

Johnson County

1.57%

$548,250

Kaufman County

1.88%

$548,250

Kendall County

1.46%

$548,250

Kerr County

1.26%

$548,250

Kleberg County

1.85%

$548,250

Lamar County

1.43%

$548,250

Liberty County

1.54%

$548,250

Limestone County

1.42%

$548,250

Lubbock County

1.78%

$548,250

Matagorda County

1.32%

$548,250

Maverick County

1.43%

$548,250

McLennan County

1.77%

$548,250

Medina County

1.40%

$548,250

Midland County

1.46%

$548,250

Milam County

1.35%

$548,250

Montgomery County

1.80%

$548,250

Nacogdoches County

1.00%

$548,250

Navarro County

1.56%

$548,250

Nueces County

1.87%

$548,250

Orange County

1.34%

$548,250

Palo Pinto County

1.48%

$548,250

Panola County

1.04%

$548,250

Parker County

1.61%

$548,250

Polk County

1.21%

$548,250

Potter County

1.79%

$548,250

Randall County

1.69%

$548,250

Rockwall County

1.95%

$548,250

Rusk County

1.09%

$548,250

San Jacinto County

1.14%

$548,250

San Patricio County

1.78%

$548,250

Shelby County

0.95%

$548,250

Smith County

1.37%

$548,250

Starr County

1.02%

$548,250

Tarrant County

2.10%

$548,250

Taylor County

1.52%

$548,250

Titus County

1.35%

$548,250

Tom Green County

1.46%

$548,250

Travis County

1.82%

$548,250

Upshur County

1.20%

$548,250

Uvalde County

1.50%

$548,250

Val Verde County

1.46%

$548,250

Van Zandt County

1.25%

$548,250

Victoria County

1.76%

$548,250

Start the mortgage process today in Texas

Start the process for either a purchase or refinance mortgage today and have a licensed loan officer in Texas contact you for a custom quote.

In Texas how do banks and lenders calculate what mortgage payment I can afford?

In Texas the general rule of thumb for determining the mortgage amount a borrower can manage is 2 – 2.5 times your monthly GROSS income. For example, someone earning $100k annual can afford a $200k – $250k mortgage. However, this is only a general guideline and there is more to the process. In addition to your gross income, lenders take into consideration two ratios: the “front-end ratio” and the “back-end ratio.”  The front-end ratio is your mortgage-to-income ratio, representing the (monthly) amount of your income which you can dedicate to paying your mortgage. The ideal ratio is under 30%–although some lenders will allow you to exceed 40%. The back-end ratio is your debt-to-income (DTI) ratio, or the amount of gross income you must cover your debts (loans for cars, education, and credit cards, for example).  Most lenders want to see that number no more than 36% (36% of your income goes to paying debts).  Although there are other factors in determining your overall financial “health,” these best represent your ability to pay the mortgage.

In Texas what are other costs that can increase my mortgage payment?

In Texas the mortgage payment includes multiple factors, each which can increase (or decrease) the actual mortgage payment. Other than then actual cost of the home, you need to include the following variables:

  • Down Payment (the amount of money you pay up front, not borrowed from the lender)
  • Interest Expenses (the interest rate, the length of the loan and type—whether a fixed or adjustable interest rate)
  • Property Taxes (these vary with the community you are moving into)
  • Insurance (homeowner’s insurance rates will depend on your coverage and can fluctuate)
  • PMI (some lenders require insurance to protect them should you default on the loan)
  • HOA Fees (Some residential communities (especially condominiums and other PUDs) have maintenance fees for shared facilities and amenities offered in the development

In Texas how do I calculate my mortgage payment?

When considering a new home purchase or whether to refinance your current mortgage, the best place to start is by estimating your monthly payment. You can utilize our free Texas calculator to get a quick estimate. However, you will need a few numbers available:

Mortgage principal (how much you want to borrow—not necessarily the cost of the property).

Monthly interest rate (the fee you pay the bank to borrow money: check out current mortgage rates). This is usually reflected as an APR (annual percentage rate) and is translated to a monthly rate by dividing the rate by 12 (months).

Number of payments (how long do you want to pay on the mortgage). This is easy with a fixed mortgage, but not with an ARM, where the rate will change on a regular basis.

Property taxes (usually the cost of taxes is added to the mortgage payment & added to an escrow account, where the taxes are paid on your behalf at the end of the year).

Homeowner’s Insurance (since type and coverage vary widely, it is best to contact an agent to get some estimates).

PMI, if required (most lenders require this additional insurance when you put down less than 20% of the purchase price of the property).

Lock your mortgage rate today in Texas

With a wide variety of financing options, our team of experts can help you find and lock in the best current rate for purchasing your home or refinancing your existing mortgage. Contact us to get started with a Texas mortgage loan today!

Calculator questions?

Whether you are a math nerd who aspires to do the math by hand or simply want to understand how Texas mortgage payments are calculated, the formula looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Key:

  • M = monthly mortgage payment
  • P = principal amount
  • I = monthly interest rate (usually listed as an annual percentage rate)
  • N = number of payments over the life of the loan (360 payments for 30 years, etc)

In Texas if you are obtaining a fixed mortgage, whether it be 30, 15, or even 5 years, you are probably curious to see how much you are paying in interest.  One thing to remember is that in the U.S., interest is paid in arrears. So, your monthly payment includes interest for the 30 days BEFORE your due date. Since fixed mortgages are fully amortized installment loans, the amortization schedule shows how the split between principal and interest changes over time. In the early years of the mortgage term, most of your payment will go towards interest. However, as you pay down the principal, less interest will accrue and more of your payment is applied to the principal.

In Texas the longer you finance your home for, the lower your monthly payments will be. Conversely, a shorter (or adjustable rate) term usually equates to a lower interest rate. Its important to run the numbers on multiple scenarios to find out what works best for you.

If you already have a mortgage and are looking for an opportunity to lower your current monthly payments, consider the following:

  • Refinance at a lower rate
  • Refinance to a longer term
  • Eliminate mortgage insurance
  • Apply for mortgage forbearance or loan modification (in case of financial hardship)

In Texas an Amortization Schedule calculator provides a schedule of how much is paid for each portion of the mortgage payment over time. A mortgage calculator allows you to plug in the mortgage amount, term (number of payments) and the APR (interest rate per year) and determine the total you will pay in principal and interest over the life of the loan.

Mortgage calculator by state

Related searches: adjustable, conforming, jumbo, payment, loan, refinance, amortization, rate, payoff, simple, 30 year fixed, 20 year fixed, 15 year fixed, 10 year fixed, 10 year ARM, 7 year ARM, 5 year ARM, 3 year ARM, Houston mortgage calculator, San Antonio mortgage calculator, Dallas mortgage calculator, Austin mortgage calculator, Fort Worth mortgage calculator

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