Free mortgage payment calculator tailored for Texas (TX). Calculate instantly with state-specific rates and rules.
The median home value in Texas is $310,000. Austin saw extraordinary appreciation 2020-2022 (50-70%) followed by one of the nation's sharpest corrections in 2023. DFW, Houston, and San Antonio have been more stable, with moderate continued growth.
The conforming loan limit is $726,200. Most Texas counties are at the standard conforming limit. No Texas counties currently qualify for high-cost conforming limits, though Austin-Round Rock values approach the threshold. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.
At the median home value of $310,000 with a 20% down payment ($62,000), you'd borrow $248,000. At 7% for 30 years, principal and interest runs approximately $1,650/month. Add property taxes (~$413/mo) and insurance (~$150/mo) for a total PITI estimate.
Budget for Texas's effective property tax rate of 1.60% (avg. bill: $4,660/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.
First-time buyers in Texas should budget for closing costs of approximately $3,700. Texas has no state transfer tax, which is a significant advantage. However, title insurance rates in Texas are state-regulated and can be higher than in unregulated states. Survey fees are standard requirements in Texas.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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