Texas Mortgage & Affordability Calculator
A true monthly payment for Texas — including county property taxes, which are among the highest in the country and the number most online calculators get wrong.
Loan details
Your finances
Why Texas mortgage payments are higher than the P&I
Principal and interest is only part of a Texas house payment. Property taxes in the major metros run about 1.8–2.3% of value each year, and homeowners insurance averages $2,500–$3,500 because of hail and wind exposure. On a $450,000 home that adds $800–$1,000 a month on top of the loan payment. This calculator builds those in using your county's typical rate and the $140,000 school homestead exemption.
How much house can I afford in Texas?
Lenders look at your housing ratio (front-end) and total debt-to-income (back-end). Conventional loans typically allow up to 36–45% total DTI depending on credit and reserves; FHA often allows more. The affordability tab solves for the highest price whose full payment — including Texas taxes, insurance and PMI — fits the housing ratio you choose, given your down payment cash.
Turn a rebate into a lower payment
With KAT Realty, a seller-paid 3% buyer-agent fee on a $450,000 home returns about $8,500 to you at closing. Applied to discount points, that can lower your rate by roughly half a percent — about $130 a month on a $405,000 loan. See the Rate Buydown Calculator.
Frequently asked questions
What is the property tax rate in Austin, Texas?
Combined rates in Travis County typically run about 1.8–2.0% of appraised value before exemptions; Williamson County about 1.7–1.9%. Rates vary by city, school district and any MUD or PID.
Does the calculator include PMI?
Yes. Below 20% down it adds private mortgage insurance at the rate you set (0.6% per year by default) and removes it when equity reaches 20%.
What is the homestead exemption?
Texas exempts $140,000 of your primary residence's value from school district taxes (more if over 65 or disabled), and caps annual appraisal increases at 10%. You apply once with your county appraisal district.
What debt-to-income ratio do I need?
Most conventional lenders want total DTI at or below 43–45%; some allow up to 50% with strong credit. FHA and VA can be more flexible.
Is this a loan pre-approval?
No. It's a planning estimate. We can connect you with Texas lenders for a real pre-approval.
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KAT Realty Group is a full-service flat fee real estate service: buyer representation for $4,999 and seller listing for $5,999, serving Austin, Dallas–Fort Worth, Houston, San Antonio and all of Texas. See all calculators or request a consultation.