Mortgage WellTexas Mortgage Payment Calculator
Use this Texas mortgage payment calculator to estimate your full monthly housing cost — principal, interest, taxes, insurance, PMI, and HOA. Texas property taxes are among the highest in the nation on a relative basis, but the state offers a homestead exemption that reduces the taxable value of a primary residence. Coastal Texas buyers face additional considerations around windstorm and hurricane insurance. Adjust the inputs below to reflect your county and situation.
Mortgage Payment Estimate
Generated · Assumption set 2026-04-30
Estimated total monthly payment
$2,555.96/mo
Tax, insurance, and PMI values are estimates based on the assumptions you entered.
Monthly Payment Breakdown
- Principal & Interest$2,022.62
- Property Tax$416.67
- Homeowners Insurance$116.67
- Total$2,555.96
Balance over time
Show data table
| Year | Balance |
|---|---|
| 1 | $316,423.24 |
| 2 | $312,606.96 |
| 3 | $308,535.08 |
| 4 | $304,190.51 |
| 5 | $299,554.97 |
| 6 | $294,608.97 |
| 7 | $289,331.75 |
| 8 | $283,701.10 |
| 9 | $277,693.35 |
| 10 | $271,283.24 |
| 11 | $264,443.83 |
| 12 | $257,146.37 |
| 13 | $249,360.20 |
| 14 | $241,052.58 |
| 15 | $232,188.56 |
| 16 | $222,730.93 |
| 17 | $212,639.88 |
| 18 | $201,873.02 |
| 19 | $190,385.09 |
| 20 | $178,127.79 |
| 21 | $165,049.59 |
| 22 | $151,095.53 |
| 23 | $136,206.92 |
| 24 | $120,321.21 |
| 25 | $103,371.61 |
| 26 | $85,286.85 |
| 27 | $65,990.93 |
| 28 | $45,402.71 |
| 29 | $23,435.67 |
| 30 | $0.00 |
Amortization schedule
| Year | Principal | Interest | Extra | Balance | Toggle |
|---|---|---|---|---|---|
| Year 1 | $3,576.76 | $20,694.68 | $0.00 | $316,423.24 | |
| Year 2 | $3,816.28 | $20,455.16 | $0.00 | $312,606.96 | |
| Year 3 | $4,071.88 | $20,199.56 | $0.00 | $308,535.08 | |
| Year 4 | $4,344.57 | $19,926.87 | $0.00 | $304,190.51 | |
| Year 5 | $4,635.54 | $19,635.90 | $0.00 | $299,554.97 | |
| Year 6 | $4,946.00 | $19,325.44 | $0.00 | $294,608.97 | |
| Year 7 | $5,277.22 | $18,994.22 | $0.00 | $289,331.75 | |
| Year 8 | $5,630.65 | $18,640.79 | $0.00 | $283,701.10 | |
| Year 9 | $6,007.75 | $18,263.69 | $0.00 | $277,693.35 | |
| Year 10 | $6,410.11 | $17,861.33 | $0.00 | $271,283.24 | |
| Year 11 | $6,839.41 | $17,432.03 | $0.00 | $264,443.83 | |
| Year 12 | $7,297.46 | $16,973.98 | $0.00 | $257,146.37 | |
| Year 13 | $7,786.17 | $16,485.27 | $0.00 | $249,360.20 | |
| Year 14 | $8,307.62 | $15,963.82 | $0.00 | $241,052.58 | |
| Year 15 | $8,864.02 | $15,407.42 | $0.00 | $232,188.56 | |
| Year 16 | $9,457.63 | $14,813.81 | $0.00 | $222,730.93 | |
| Year 17 | $10,091.05 | $14,180.39 | $0.00 | $212,639.88 | |
| Year 18 | $10,766.86 | $13,504.58 | $0.00 | $201,873.02 | |
| Year 19 | $11,487.93 | $12,783.51 | $0.00 | $190,385.09 | |
| Year 20 | $12,257.30 | $12,014.14 | $0.00 | $178,127.79 | |
| Year 21 | $13,078.20 | $11,193.24 | $0.00 | $165,049.59 | |
| Year 22 | $13,954.06 | $10,317.38 | $0.00 | $151,095.53 | |
| Year 23 | $14,888.61 | $9,382.83 | $0.00 | $136,206.92 | |
| Year 24 | $15,885.71 | $8,385.73 | $0.00 | $120,321.21 | |
| Year 25 | $16,949.60 | $7,321.84 | $0.00 | $103,371.61 | |
| Year 26 | $18,084.76 | $6,186.68 | $0.00 | $85,286.85 | |
| Year 27 | $19,295.92 | $4,975.52 | $0.00 | $65,990.93 | |
| Year 28 | $20,588.22 | $3,683.22 | $0.00 | $45,402.71 | |
| Year 29 | $21,967.04 | $2,304.40 | $0.00 | $23,435.67 | |
| Year 30 | $23,435.67 | $833.21 | $0.00 | $0.00 |
Assumptions used
Assumption set 2026-04-30
- Home price
- $400,000user input
- Down payment
- $80,000 (20.00%)user input
- Loan amount
- $320,000calculated
- Annual interest rate
- 6.50%user input
- Loan term
- 30 yearsuser input
- Annual property tax
- $5,000user input
- Annual homeowners insurance
- $1,400user input
- Monthly HOA
- $0user input
- Property tax rate
- 1.25%config
- Homeowners insurance rate
- 0.35%config
How to use this Texas mortgage calculator
Start with the home price and your planned down payment. For Texas property tax, set the property tax % field higher than the national average — Texas funds local services primarily through property tax rather than a state income tax. If the home will be your primary residence, the homestead exemption will reduce your taxable value; the discount varies by school district and county. For homeowners insurance, expect coastal counties to price meaningfully higher than inland ones because of hurricane and windstorm risk. PMI applies when your down payment is below 20% and the calculator estimates it automatically.
Reviewed for calculation accuracy and clarity by the Mortgage Well Calculation Review Team ·
Texas mortgage payment example
A buyer purchasing a home in the Austin, Houston, or San Antonio metro with 20% down at the current market rate would see a principal-and-interest payment derived from the loan amount and term. On top of that, the calculator adds estimated property tax (Texas effective rates typically run above the national average), homeowners insurance, and any HOA dues. Texas's homestead exemption — which applies to primary residences and varies by taxing entity — reduces the taxable value used by school districts and other local taxing units. Coastal buyers should price in higher insurance and possibly Texas Windstorm Insurance Association coverage for windstorm and hail.
What affects mortgage payments in Texas?
Texas property tax is among the highest relative rates in the nation
Texas funds local government services — including schools, roads, and emergency services — primarily through property tax, because the state has no personal income tax. Effective property tax rates are commonly above the national average, though the actual rate depends on county, city, and school-district levies in your specific location. Use a higher property tax % in the calculator than you would for the U.S. median, and verify with the appraisal district once you have a target home.
Homestead exemption for primary residences
Texas offers a homestead exemption that reduces the taxable value of a primary residence for property tax purposes. The state-mandated school-district exemption is one component; counties, cities, and special districts can add their own exemptions on top. Eligibility depends on the home being your principal residence on January 1 of the tax year, and you must file an application with the county appraisal district. Once granted, the exemption typically renews automatically.
Coastal windstorm and hurricane insurance
Counties along the Texas Gulf Coast face elevated homeowners insurance costs because of hurricane and windstorm risk. In designated coastal counties where private market windstorm coverage is unavailable or unaffordable, the Texas Windstorm Insurance Association (TWIA) provides windstorm and hail coverage as the insurer of last resort. Flood damage is separately not covered by standard homeowners insurance anywhere in the U.S.; National Flood Insurance Program policies or private flood policies are separate purchases.
No state income tax — but local property tax does more work
Texas's lack of a state income tax is often cited as a cost-of-living advantage, but the tradeoff is that property tax shoulders more of the local revenue burden. For monthly mortgage payment planning, that mostly means the property tax portion of PITI is a larger share of your payment in Texas than in many other states — which the calculator will reflect once you set an appropriate property tax %.
Texas mortgage payment FAQs
- Why is Texas property tax so high?
- Texas has no state income tax, so local governments rely heavily on property tax to fund schools and services. Effective property tax rates are commonly above the U.S. average, though the exact rate depends on the county, city, and school district. The appraisal district publishes the rate annually.
- How does the Texas homestead exemption affect my mortgage payment?
- The homestead exemption reduces the taxable value of your primary residence, lowering the property tax portion of your monthly payment after the exemption is applied. You apply through the county appraisal district once you've owned the home as of January 1 of the tax year. The exemption typically renews each year automatically once granted.
- Do I need windstorm insurance to get a mortgage in coastal Texas?
- Lenders in designated coastal counties often require windstorm coverage as part of homeowners insurance, because standard policies may exclude wind damage in those areas. Coverage is available through private insurers where the market supports it, and through the Texas Windstorm Insurance Association (TWIA) where it doesn't. Confirm requirements with your lender and verify what your policy covers.
- Is homeowners insurance more expensive in coastal Texas?
- Yes — coastal and Gulf-facing counties generally see higher homeowners insurance premiums than inland counties because of hurricane and windstorm risk. Quotes from your insurer will reflect the property's specific location, structure type, and replacement cost. Flood insurance is separate and is usually a National Flood Insurance Program or private-flood policy.
Sources and references
Helpful consumer references used to explain assumptions on this page. These are educational pointers, not regulatory endorsement.
- U.S. Census Bureau — American Community Survey — national 5-year housing and property-tax statistics; the publisher of state-level property-tax-burden comparisons
- Texas Comptroller of Public Accounts — official state reference for Texas property tax administration, including homestead exemption rules
- Texas Department of Insurance — state regulator of homeowners insurance in Texas; consumer-facing reference for coverage rules and coastal windstorm guidance
- Texas Windstorm Insurance Association (TWIA) — state-authorized association of last resort for windstorm and hail coverage in designated Texas coastal counties
Mortgage Payment Calculator in other states
State-specific pages we've published so far. More states ship as we add authored content.
Back to the national calculator
The state-aware copy on this page is layered on top of the same underlying calculator. Use the national version for situations that aren't state-specific or to compare scenarios across states.
Open the Mortgage Payment CalculatorEstimates only. This calculator is not a loan offer, loan approval, official Loan Estimate, Closing Disclosure, tax advice, legal advice, or financial advice. Actual payments, rates, taxes, insurance, mortgage insurance, closing costs, and loan terms may vary. Contact a qualified lender, tax professional, or financial advisor for guidance.