Texas Mortgage Calculator
Most mortgage calculators show you principal and interest and stop there. In Central Texas that is roughly two thirds of the real number: property taxes here are high enough that leaving them out produces an answer nobody can budget against. This one includes all of it.
- Principal & interest—
- Property tax—
- Homeowners insurance—
- HOA dues—
- Mortgage insurance (PMI)—
This is an estimate, not a lending decision or a quote. It does not account for your credit profile, debt-to-income ratio, loan programme, points, lender fees, escrow shortages, or closing costs, and no part of it constitutes an offer of credit. Figures are calculated on the values you enter above.
Property tax and insurance are the two numbers most often underestimated in Central Texas, and both are typically collected monthly into an escrow account alongside your payment. For a real number, talk to a lender. We are happy to introduce you to a few we have watched close.
What Actually Goes Into a Texas Payment
Principal and interest is the loan itself, and it is the only part that stays fixed on a fixed-rate mortgage. Everything else moves.
Property tax is the line that surprises people relocating from states with income tax. Texas has no state income tax and correspondingly high property taxes, assessed by the county appraisal district and levied by a stack of overlapping jurisdictions: county, city, school district, community college, and sometimes a MUD. A homestead exemption reduces the taxable value on your primary residence and caps how fast the assessed value can rise, so the tax on a home you have owned for years is often lower than the tax the next buyer will pay for the same house.
Homeowners insurance in Texas runs above the national average, driven largely by hail and wind exposure. Roof age matters enormously to what you will be quoted, and carriers have grown more selective. Get a real quote during the option period rather than assuming a number.
HOA dues vary from nothing to several hundred dollars a month, and condos carry the additional risk of special assessments that no calculator can predict.
Mortgage insurance applies on conventional loans when you put down less than 20%, and generally falls away once you have built sufficient equity. It is not the same thing as homeowners insurance and it protects the lender rather than you.
Talk to an Advisor
Tell us what you are trying to do. We will tell you what we think, including when the answer is to wait.