Mortgage payment calculator
Estimate principal, interest, taxes, insurance and HOA on any home price, with Texas-sized property tax defaults you can change.
Texas has no state income tax but property taxes run higher than most states. Check your county appraisal district for the exact rate. Mortgage insurance, if any, is not included.
Estimated monthly payment
$3,510
- Principal and interest
- $2,560
- Property tax
- $750
- Home insurance
- $200
- HOA
- $0
- Loan amount
- $405,000
Estimate only, for illustration. Your actual rate, payment and costs depend on your credit, loan program, property and market conditions. Not an offer to lend.
Get my real numbersHow this mortgage calculator works
Your monthly mortgage payment usually has four parts, often called PITI: principal, interest, property taxes and homeowners insurance. If you buy in a neighborhood with an HOA, dues get added on top, and if you put less than 20% down on a conventional loan, or use FHA, mortgage insurance is usually added too.
The calculator uses the standard amortization formula to find principal and interest from your loan amount, rate and term. It then adds one twelfth of your yearly property tax and insurance, plus monthly HOA dues.
Why Texas payments look different
Texas has no state income tax, so local governments lean on property taxes. Combined rates in Central Texas often land around 1.8% to 2.5% of assessed value depending on the county, city, school district and special districts like MUDs. That is why the tax line on a Texas payment can rival the interest line. Look up your exact rate on the county appraisal district site, and remember a homestead exemption can lower it once you live in the home.
Use it to
- Compare 15 and 30 year terms on the same house
- See how much a bigger down payment changes the monthly number
- Check whether a house with HOA dues still fits your budget
Common questions
What is included in a mortgage payment?
Principal and interest on the loan, plus property taxes and homeowners insurance, which are usually collected monthly into an escrow account. HOA dues and mortgage insurance are added when they apply. This calculator shows each piece separately so you can see where the money goes.
Does this calculator include mortgage insurance?
No. Mortgage insurance depends on the loan program, your down payment and your credit, so it is left out to keep the estimate honest. FHA loans and conventional loans with less than 20% down usually carry it. Ask us and we will price it for your situation.
What property tax rate should I use in Austin?
Use the combined rate for the exact address, which you can find on the county appraisal district website. Rates vary by county, city, school district and special districts, and many Central Texas addresses fall roughly between 1.8% and 2.5% before any homestead exemption.
Is the result a quote?
No. It is an estimate for planning. Your actual rate, payment and costs depend on your credit, loan program, the property and the market on the day you lock. A pre-approval gives you real numbers.
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