US mortgage calculator (all states)
Texas offers some of the best mortgage affordability among major US states, with a median home price of $338,000 in 2026 — less than half of California's median. Texas has no state income tax, which increases purchasing power and makes qualifying for a mortgage easier. However, Texas has among the highest property tax rates in the US at 1.63%–1.81% effective rate, meaning annual taxes of $5,500–$6,100 on a $338,000 home. Dallas averages $375,000 and Houston $320,000. Texas's housing market remains stable with inventory growth keeping prices in check despite strong population growth.
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State: Texas (median-style home price, tax, and insurance pre-filled — edit as needed)
Texas defaults emphasize higher annual property tax and wind/hail insurance — flood zones may require separate coverage. Not a loan offer.
Dollar amount. PMI applies when under 20% of home price.
PMI is estimated at 0.5% of the loan amount per year when your down payment is below 20% of the purchase price.
Total monthly payment
$2,587
Amortization summary: fixed rate; effective rate equals your quoted rate. Taxes, insurance, PMI, and HOA are shown separately from P&I.
| Location | Median price | YoY change |
|---|---|---|
| Texas (state) | $338,000 | -0.8% |
| Dallas-Fort Worth | ~$375,000 | +2% |
| Houston | ~$320,000 | Flat |
| Austin | ~$480,000 | -3% |
| San Antonio | ~$285,000 | +1% |
| Cost | Rate/amount | Notes |
|---|---|---|
| Property tax rate | 1.63%–1.81% | Among highest in US |
| Annual tax ($338k home) | ~$5,500–$6,100 | ~$460–$510/month |
| Conforming loan limit | $832,750 | Standard federal limit |
| Home insurance | ~$3,500–$5,000/year | High due to weather risk |
| Flood insurance | Varies | Required in flood zones |
Texas State Affordable Housing Corporation (TSAHC) offers down payment assistance of 3%–5% of the loan amount for qualifying buyers. The My First Texas Home program provides 30-year fixed-rate mortgages at below-market rates with down payment assistance up to 5%. Income limits and purchase price caps apply. Veterans can access VA loans with zero down payment. Texas's no-income-tax environment means buyers can qualify for larger mortgages on the same gross income compared to high-tax states.
The median home price in Texas is approximately $338,000 in 2026, down slightly 0.8% year-over-year. Dallas-Fort Worth averages $375,000, Houston $320,000, Austin $480,000, and San Antonio $285,000 — all significantly more affordable than California or New York.
Texas has no state income tax and funds local government primarily through property taxes. The effective property tax rate of 1.63%–1.81% is among the highest in the US. On a $338,000 home, annual taxes run $5,500–$6,100 — about $460–$510 per month added to your mortgage payment.
To buy Texas's median home of $338,000 with 10% down ($33,800), you need a mortgage of $304,200. At 6.5% over 30 years, monthly P&I is approximately $1,922. Adding property tax ($480/month) and insurance ($350/month), total payment is about $2,752, requiring qualifying income of approximately $70,000–$80,000 annually.
Yes. The Texas State Affordable Housing Corporation (TSAHC) offers down payment assistance of 3%–5% through the My First Texas Home program. The Texas Department of Housing offers additional assistance for low-to-moderate income buyers. Veterans can use VA loans with zero down payment statewide.
Educational estimates only. Not a mortgage offer or tax advice.