Texas mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in Texas. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Texas housing market

The Lone Star State's housing market remains incredibly affordable with the 15th lo...west median home value in the U.S. Don't mess with that level of affordability! One thing to know about Texas: while it is known for oil and gas, there is a good chance your home will be powered by wind as it has the largest wind energy supply in the U.S.

Your monthly payment
30 year fixed loan term
Monthly payment
Principal & interest


Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,139$1,554
Mortgage Rate4.125%3.39%*3.8%*
Total interest paid
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,139$1,554
Mortgage Rate4.125%3.39%*3.8%*
Total interest paid

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Principal Paid
Interest Paid
Year 0
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We’ll share an interesting insight here for key milestones in your payoff schedule.

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Principal & interest


Texas mortgage and refinance rates today (APR)

Loan typeAverage
1 day
1 year
30-year fixed3.837%
15-year fixed3.244%
5/1 ARM3.837%

Today’s rate

30-year fixed

Current rates in Texas are 3.837% for a 30-year fixed, 3.244% for a 15-year fixed, and 3.837% for a 5/1 adjustable-rate mortgage (ARM).

Find top real estate agents in Texas

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Texas's first-time home buyer programs

The Texas Department of Housing and Community Affairs, or TDCHA, offers several loan programs to help qualified first-time home buyers get a mortgage.

My First Texas Home loan

State program

Best for

Low mortgage rates

Down payment assistance

Closing cost assistance

What you need to know

The My First Texas Home program offers 30-year, low fixed-interest rate mortgages for first-time home buyers through a network of participating lenders. The program includes down payment and closing cost assistance of up to 5% of the mortgage amount as a no-interest, no-monthly-payment second lien....

See full article

Texas's best mortgage lenders

NerdWallet has done the work for you to pick the best financing partner for you in Texas.

See full article

Average property tax in Texas counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Texas. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Anderson County1.22%$91,800
Andrews County1.14%$126,000
Angelina County1.31%$111,700
Aransas County1.25%$158,900
Archer County1.34%$125,600
Armstrong County0.91%$128,600
Atascosa County1.22%$96,100
Austin County1.1%$175,200
Bailey County1.73%$68,000
Bandera County1.19%$165,900
Bastrop County1.51%$180,900
Baylor County1.25%$67,200
Bee County1.25%$78,500
Bell County1.56%$147,200
Bexar County1.87%$160,100
Blanco County0.95%$230,800
Borden County0.47%$106,900
Bosque County0.86%$106,700
Bowie County1.42%$132,000
Brazoria County2.09%$195,200
Brazos County1.71%$190,600
Brewster County1.2%$113,400
Briscoe County1.05%$65,700
Brooks County1.4%$61,900
Brown County1.3%$95,100
Burleson County0.98%$99,500
Burnet County1.15%$171,100
Caldwell County1.46%$124,300
Calhoun County1.23%$114,900
Callahan County1.07%$76,500
Cameron County1.66%$92,000
Camp County1.18%$83,600
Carson County1.4%$107,800
Cass County1.14%$86,200
Castro County1.49%$80,300
Chambers County1.35%$171,500
Cherokee County1.24%$98,200
Childress County1.41%$81,000
Clay County1.26%$87,200
Cochran County1.36%$33,300
Coke County1.32%$81,800
Coleman County0.92%$65,900
Collin County1.89%$323,500
Collingsworth County1.34%$55,800
Colorado County0.99%$116,700
Comal County1.2%$282,300
Comanche County1.23%$89,600
Concho County1.33%$109,800
Cooke County1.42%$144,700
Coryell County1.42%$115,200
Cottle County1.1%$44,700
Crane County1.21%$81,500
Crockett County0.72%$80,600
Crosby County1.75%$57,500
Culberson County1.73%$57,000
Dallam County1.17%$77,000
Dallas County1.61%$175,000
Dawson County1.68%$66,400
Deaf Smith County1.77%$88,000
Delta County1.67%$73,100
Denton County1.84%$280,600
DeWitt County0.63%$100,000
Dickens County0.99%$54,200
Dimmit County1.24%$65,200
Donley County1.38%$65,100
Duval County0.88%$48,500
Eastland County1.13%$59,800
Ector County1.27%$149,500
Edwards County1.18%$72,800
Ellis County1.67%$190,400
El Paso County2.05%$122,300
Erath County1.21%$128,300
Falls County1.18%$63,000
Fannin County1.34%$98,200
Fayette County0.77%$158,700
Fisher County1.28%$60,500
Floyd County1.47%$60,500
Foard County1.44%$47,400
Fort Bend County2.23%$264,000
Franklin County1.18%$130,300
Freestone County1.16%$86,100
Frio County1.02%$75,900
Gaines County1.39%$111,000
Galveston County1.84%$206,400
Garza County1.1%$77,500
Gillespie County0.98%$269,900
Glasscock County0.87%$193,600
Goliad County0.67%$130,900
Gonzales County0.98%$92,900
Gray County1.5%$71,700
Grayson County1.5%$139,500
Gregg County1.43%$137,600
Grimes County0.86%$110,100
Guadalupe County1.48%$190,000
Hale County1.47%$80,200
Hall County1.4%$48,700
Hamilton County1.15%$108,500
Hansford County1.42%$93,500
Hardeman County1.49%$38,400
Hardin County1.39%$113,100
Harris County1.71%$174,000
Harrison County1.14%$141,700
Hartley County1.6%$146,900
Haskell County1.41%$49,200
Hays County1.71%$234,400
Hemphill County1.23%$130,700
Henderson County1.19%$116,000
Hidalgo County1.92%$86,100
Hill County1.43%$93,700
Hockley County1.5%$82,300
Hood County1.27%$170,800
Hopkins County1.23%$97,200
Houston County0.98%$80,200
Howard County1.23%$85,700
Hudspeth County1.29%$44,100
Hunt County1.52%$137,300
Hutchinson County1.49%$75,500
Irion County0.85%$146,400
Jack County1.45%$81,400
Jackson County1.24%$96,700
Jasper County1.05%$97,400
Jeff Davis County1.0%$111,300
Jefferson County1.63%$107,200
Jim Hogg County1.54%$61,800
Jim Wells County1.33%$73,800
Johnson County1.55%$154,200
Jones County1.43%$73,100
Karnes County0.95%$94,100
Kaufman County1.77%$182,300
Kendall County1.21%$297,700
Kent County0.79%$70,500
Kerr County1.15%$164,000
Kimble County0.5%$107,200
Kinney County1.21%$64,200
Kleberg County1.63%$86,800
Knox County1.67%$44,400
Lamar County1.31%$88,100
Lamb County1.39%$62,700
Lampasas County1.36%$136,800
La Salle County1.11%$70,800
Lavaca County1.01%$143,300
Lee County0.95%$138,300
Leon County0.84%$102,300
Liberty County1.4%$99,200
Limestone County1.22%$84,800
Lipscomb County1.25%$92,400
Live Oak County0.81%$84,900
Llano County1.0%$184,500
Lubbock County1.73%$137,700
Lynn County1.91%$76,800
Madison County0.96%$101,700
Marion County1.16%$88,600
Martin County0.95%$120,500
Mason County0.71%$156,400
Matagorda County1.38%$102,200
Maverick County1.57%$95,100
McCulloch County0.94%$82,000
McLennan County1.72%$139,800
McMullen County0.98%$74,700
Medina County1.41%$134,400
Menard County1.19%$60,800
Midland County1.44%$202,100
Milam County1.05%$88,500
Mills County0.79%$111,200
Mitchell County1.34%$65,700
Montague County1.04%$107,100
Montgomery County1.76%$235,400
Moore County1.36%$106,400
Morris County1.08%$82,300
Motley County1.52%$57,300
Nacogdoches County0.97%$141,600
Navarro County1.6%$88,900
Newton County0.86%$73,300
Nolan County1.53%$66,100
Nueces County1.65%$138,600
Ochiltree County1.4%$102,400
Oldham County1.59%$87,000
Orange County1.34%$107,100
Palo Pinto County1.29%$88,600
Panola County1.03%$97,200
Parker County1.53%$216,100
Parmer County1.35%$86,200
Pecos County1.18%$68,600
Polk County1.26%$84,900
Potter County1.63%$91,200
Presidio County1.37%$50,700
Rains County1.43%$114,000
Randall County1.61%$173,900
Reagan County1.13%$88,400
Real County0.68%$105,100
Red River County1.1%$65,200
Reeves County1.17%$52,900
Refugio County1.36%$80,800
Roberts County0.95%$135,700
Robertson County1.0%$93,900
Rockwall County1.78%$266,400
Runnels County1.42%$76,500
Rusk County1.02%$111,200
Sabine County0.82%$92,100
San Augustine County1.0%$81,900
San Jacinto County0.96%$95,900
San Patricio County1.69%$120,900
San Saba County1.17%$97,000
Schleicher County1.43%$72,900
Scurry County1.56%$89,800
Shackelford County1.69%$78,900
Shelby County0.89%$73,100
Sherman County1.01%$86,800
Smith County1.36%$155,900
Somervell County0.93%$172,200
Starr County1.23%$67,200
Stephens County1.22%$73,400
Sterling County0.59%$66,100
Stonewall County1.28%$53,700
Sutton County1.5%$95,500
Swisher County1.41%$70,800
Tarrant County1.96%$186,200
Taylor County1.42%$122,100
Terrell County0.98%$66,600
Terry County1.6%$68,000
Throckmorton County1.22%$68,600
Titus County1.31%$96,300
Tom Green County1.44%$140,400
Travis County1.65%$321,400
Trinity County1.19%$75,300
Tyler County1.12%$81,500
Upshur County1.24%$111,600
Upton County1.11%$62,900
Uvalde County0.97%$77,800
Val Verde County1.49%$94,500
Van Zandt County1.14%$112,600
Victoria County1.6%$140,300
Walker County1.34%$156,400
Waller County1.43%$157,600
Ward County0.61%$85,600
Washington County1.11%$163,400
Webb County2.03%$133,200
Wharton County1.47%$115,700
Wheeler County1.33%$86,500
Wichita County1.79%$100,700
Wilbarger County1.75%$69,900
Willacy County1.15%$49,100
Williamson County1.94%$272,500
Wilson County1.42%$170,600
Winkler County1.09%$58,200
Wise County1.36%$160,800
Wood County1.15%$117,000
Yoakum County1.19%$81,900
Young County1.28%$87,500
Zapata County1.13%$60,700
Zavala County1.42%$39,900

Source: American Communities Survey 2016, U.S. Census

What’s included in a mortgage loan calculator?

A mortgage calculator used to look kind of like your grandfather’s cell phone. A bunch of buttons, a little screen and a lot of punching in numbers to get a result. The NerdWallet home mortgage calculator is different. It can calculate your monthly mortgage payment in no time.

Any good home mortgage calculator can do that. Even that big calculator stuffed in your grandpa’s shirt pocket. But an excellent mortgage payment calculator can do more. That’s why the NerdWallet monthly mortgage payment calculator also takes into account the additional costs — like taxes and insurance — that are included in your monthly payment. It’s called a PITI mortgage calculator, for principal, interest, taxes and insurance. We can also include HOA dues and PMI — private mortgage insurance — in your monthly payment calculation.

A lot of folks forget to include all those costs and are frankly a bit surprised when their monthly mortgage payment turns out to be a lot more than they counted on. The formula working behind the curtain of the NerdWallet mortgage calculator takes that bit of uncertainty out of the picture.

How to calculate your mortgage payment

For the paper and pencil mathletes out there, the mortgage payment calculation looks like this:

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

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

How to use a mortgage payment calculator

Determining what your monthly house payment will be is an important part of the “how much house can I afford?” decision. That monthly payment is likely to be the biggest part of your living overhead.

Using this tool to calculate your mortgage payment can help you run various scenarios in your decision process for buying a home. You may consider:

  • How long of a home loan term is right for you? A 30-year fixed-rate mortgage will lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage can reduce the total interest you’ll pay, but your monthly payment will be higher. Regardless of which term you choose, fixed-rate mortgages have interest rates that are locked in for the life of the loan.
  • Is an ARM a good option? Adjustable-rate mortgages start with a “teaser” interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years or so. You’ll want to be aware of how much your monthly mortgage payment can change, especially if interest rates are trending higher.
  • If you’re buying too much home. The NerdWallet mortgage payment calculator can help you take a reality check on just how much home you can afford, especially when considering your all-in costs, including taxes, insurance and PMI.
  • Are you putting enough money down? With minimum down payments commonly as low as 3% these days, it’s easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment for you may be.

What are the monthly costs built into a monthly mortgage payment?

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But that’s rarely the case these days. There are a lot of costs that can be built into a monthly mortgage payment. Here are the five key components in play when you calculate mortgage payments:

  • Principal: Typically, this would be the home’s purchase price, less any down payment It’s the amount you borrow. If you’re buying a $500,000 home and put down $100,000, the principal would be $400,000.
  • Interest: What the lender charges you to loan you the money. Interest rates are expressed as an annual percentage.
  • Property taxes: The annual tax assessed by a government authority on your home and land.
  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan.
  • Homeowners association (HOA) fee: This is paid by homeowners to an organization that assists with upkeep, property improvements and shared amenities.

Can I lower my monthly payment?

This is where a mortgage calculator can really bring some clarity to the home buying process: by helping you to work different payment scenarios.

Here are ways you can lower your monthly payment:

  • Extend the number of years for the loan. It’s called the loan term, something we mentioned above. As we said, your payment will be lower but you’ll be paying a lot more interest over the added years. Review your amortization schedule to see the impact of extending your loan.
  • Buy less house. Obviously, taking out a smaller loan means a smaller monthly mortgage payment.
  • Avoid paying PMI. By putting down 20% or more, you won’t have to pay private mortgage insurance. That can be another option to consider as you run “what ifs” in the mortgage calculator tool. However, if you’re looking at FHA loans, mortgage insurance can last for the entire length of the loan.
  • Get a better interest rate. Putting more money down not only can eliminate PMI, but lower your interest rate, too. That means a lower monthly mortgage payment. Shopping at least three lenders can also increase your odds of getting a better mortgage interest rate.

Can my monthly payment go up?

Now, you’ve calculated your monthly mortgage payment and you’ve got a number you’re happy with. What could make your payment go up from there:

  1. If you have an adjustable-rate mortgage, as we mentioned above.
  2. If costs included in your mortgage payment, such as property taxes or homeowners insurance premiums, go up. And they will, eventually.
  3. If your mortgage loan servicer charges a late payment fee.