Home and mortgage

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.

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Home priceDown paymentInterest rateStarts at this week's national averageLoan termProperty taxA year, as a share of the price; about 1% is typical, varying widely by countyHome insurance a yearMortgage insurance (PMI)A year, on the loan, only below 20% downHOA dues a month

Monthly payment$2,058.67The answer

Monthly payment

$2,058.67

A $284,000 home with 20% down ($227,200 borrowed) at 7.18% over 30 years costs about $2,059 a month: $1,539 principal and interest plus $520 of tax, insurance and dues.

Principal and interest: $1,539.13
Tax, insurance, PMI and HOA: $519.54
Total interest over the loan: $326,887

Amortization by year: $227,200 at 7.18%

Year	Interest	Principal	Balance
1	$16,240.55	$2,229.03	$224,970.97
2	$16,075.14	$2,394.45	$222,576.52
3	$15,897.44	$2,572.14	$220,004.39
4	$15,706.56	$2,763.02	$217,241.37
5	$15,501.52	$2,968.06	$214,273.30
6	$15,281.26	$3,188.33	$211,084.97
7	$15,044.65	$3,424.93	$207,660.04
8	$14,790.48	$3,679.10	$203,980.94
9	$14,517.45	$3,952.13	$200,028.81
10	$14,224.16	$4,245.42	$195,783.39
11	$13,909.11	$4,560.47	$191,222.92
12	$13,570.67	$4,898.91	$186,324.01
13	$13,207.12	$5,262.46	$181,061.55
14	$12,816.59	$5,652.99	$175,408.56
15	$12,397.08	$6,072.50	$169,336.06
16	$11,946.44	$6,523.15	$162,812.91
17	$11,462.35	$7,007.23	$155,805.68
18	$10,942.34	$7,527.24	$148,278.43
19	$10,383.74	$8,085.84	$140,192.59
20	$9,783.68	$8,685.90	$131,506.69
21	$9,139.10	$9,330.49	$122,176.21
22	$8,446.68	$10,022.91	$112,153.30
23	$7,702.87	$10,766.71	$101,386.59
24	$6,903.87	$11,565.72	$89,820.87
25	$6,045.57	$12,424.01	$77,396.86
26	$5,123.58	$13,346.01	$64,050.85
27	$4,133.16	$14,336.42	$49,714.43
28	$3,069.25	$15,400.34	$34,314.09
29	$1,926.38	$16,543.20	$17,770.89
30	$698.70	$17,770.89	$0.00

Download the schedule (CSV)

This week's mortgage rates

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

Home price	Principal and interest	Property tax	Total
$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.

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.

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Updated Sep 30, 2026 by the RateHerald team. The maths is tested against worked examples; report a problem.