Texas Mortgage Calculator
A $400,000 home in Texas with 20% down and a 30-year loan at 6.5% costs about $2,513 a month: $2,023 principal and interest plus $490 property tax at Texas’s average rate of 1.47%.
Add homeowners insurance and any HOA or PMI. Try your own numbers in the mortgage calculator.
Monthly payments in Texas by home price
20% down payment, 30-year fixed loan, Texas average property tax. Insurance not included.
| Home price | Loan | P&I at 6% | P&I at 6.5% | P&I at 7% | Property tax / mo | Total at 6.5% |
|---|---|---|---|---|---|---|
| $200,000 | $160,000 | $959 | $1,011 | $1,064 | $245 | $1,256 |
| $250,000 | $200,000 | $1,199 | $1,264 | $1,331 | $306 | $1,570 |
| $300,000 | $240,000 | $1,439 | $1,517 | $1,597 | $368 | $1,884 |
| $350,000 | $280,000 | $1,679 | $1,770 | $1,863 | $429 | $2,199 |
| $400,000 | $320,000 | $1,919 | $2,023 | $2,129 | $490 | $2,513 |
| $500,000 | $400,000 | $2,398 | $2,528 | $2,661 | $613 | $3,141 |
| $600,000 | $480,000 | $2,878 | $3,034 | $3,193 | $735 | $3,769 |
| $750,000 | $600,000 | $3,597 | $3,792 | $3,992 | $919 | $4,711 |
| $1,000,000 | $800,000 | $4,796 | $5,057 | $5,322 | $1,225 | $6,282 |
Property tax in Texas
Property tax is usually paid through an escrow account with your mortgage, so it is part of your monthly payment. Texas’s average effective rate of 1.47% is among the highest in the country. Each county and city sets its own rate, and many states offer homestead exemptions that lower the bill for a primary residence, so check with your county assessor.
Other costs to budget for
- Homeowners insurance: often $100–$300 a month depending on the home and location.
- PMI: with less than 20% down on a conventional loan, usually 0.3%–1.5% of the loan a year.
- Closing costs: typically 2%–5% of the loan. Estimate them with the closing cost calculator.
Frequently asked questions
What is the property tax rate in Texas?
The average effective property tax rate in Texas is about 1.47% of a home’s value per year, or roughly $5,880 a year on a $400,000 home. Rates vary by county and city.
What is the monthly payment on a $400,000 house in Texas?
With 20% down and a 30-year loan at 6.5%, principal and interest is $2,023 a month. Adding Texas’s average property tax brings it to about $2,513, before homeowners insurance.
How much income do I need to buy a $400,000 home in Texas?
Lenders like housing costs under about 28% of gross income. A payment of $2,663 including insurance suggests an income of roughly $114,112 a year.
Property tax rates are statewide averages and rounded. Mortgage rates shown are examples, not offers.