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run theMortgage Numbers
Estimate your full monthly payment, including Texas property taxes and insurance, then see how it changes with a different down payment or rate.
Texas has no state income tax, but property taxes are higher than most states. In our area they often run around 2% to 2.5% of value per year, so they're a big part of your payment.
Estimated monthly payment
Cash to close adds an estimated 3% of the price for lender and title costs. Total interest over the loan: .
Side by side
compareDown Payments & Rates
Total monthly payment at , including taxes, insurance, HOA, and mortgage insurance. Your current choice is highlighted.
What's in a payment
breaking downYour Payment
Principal & interest
The loan itself. Early on, most of each payment goes to interest. Over time, more goes to principal and builds your equity.
Property taxes
Usually collected monthly into an escrow account. Once you own and live in the home, file for your homestead exemption to lower the bill.
Homeowners insurance
Texas hail and wind make insurance pricier than many places. Get a quote early, before your option period ends.
Mortgage insurance
Conventional loans add it below 20% down, and it can come off once you reach enough equity. FHA loans have their own version.
HOA dues
Many newer neighborhoods have one. Some also carry a MUD or PID, which shows up in your property tax rate.
Loan types
Conventional loans can start at 3% to 5% down, FHA at 3.5%, and VA and USDA loans can be zero down for buyers who qualify.
Get pre-approved so you know your real budget and rate. I'm happy to introduce you to lenders I trust, and the buyer guide walks through the whole process.