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Mortgage Calculator for Texas

Estimate your monthly payment in Texas with real Texas property tax rates and first-time buyer programs pre-loaded.

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📍 Texas Housing Information

Capital City Austin
Largest City Houston
Property Tax Rate 1.6%
Average Home Price $315,000
Avg Down Payment 6%

First-Time Buyer Programs in Texas:

  • My First Texas Home
  • TSAHC Home Sweet Texas
  • Texas MCC Program

Note: Rates shown are statewide averages. Your county rate may differ.

How to Use This Mortgage Calculator in Texas

Welcome to our mortgage calculator for first-time buyers in Texas, designed specifically for first-time home buyers in Texas. Whether you're looking in Austin or Houston, understanding your potential monthly mortgage payment is essential before you start house hunting. This calculator uses Texas's specific property tax rate of 1.6%, which is 0.71% higher than the national average, to give you the most accurate estimate possible.

If you're buying your first home in Texas, you'll find that the average home price is $315,000. With a typical down payment of 6%, most first-time buyers in Texas are leveraging programs like My First Texas Home to make homeownership more affordable. These programs can provide down payment assistance, lower interest rates, and flexible credit requirements that make it easier to qualify for a mortgage in Texas.

Texas's property tax rate of 1.6% significantly impacts your monthly payment. Unlike some states where property taxes are relatively low, Texas requires careful budgeting for this ongoing cost. Our mortgage calculator for first-time buyers in Texas includes property tax in the calculation so you can see your true PITI (Principal, Interest, Taxes, and Insurance) payment, not just the principal and interest that many other calculators show.

The largest city in Texas is Houston, and the capital is Austin. Housing markets in these areas may differ from the state average — urban areas like Houston often have higher home prices and different property tax assessments than rural parts of Texas. When using this mortgage calculator for first-time buyers in Texas, adjust the home price based on where you plan to buy within Texas.

When calculating your mortgage in Texas, don't forget to factor in closing costs (typically 2-5% of the loan amount), ongoing maintenance (1-2% of home value annually), and homeowner's insurance. Our calculator adds estimated insurance to give you a complete picture of your monthly housing cost in Texas. Many first-time buyers in Texas are surprised by how much their total monthly payment differs from their principal and interest alone.

If you're a first-time buyer in Texas exploring your options, we recommend exploring the My First Texas Home and TSAHC Home Sweet Texas and Texas MCC Program programs mentioned above. These Texas-specific programs can significantly reduce your upfront costs and make your mortgage calculator for first-time buyers in Texas more accurate by accounting for favorable terms you may qualify for.

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Frequently Asked Questions

What is the property tax rate for first-time buyers in Texas?
The average property tax rate in Texas is 1.6%. This is higher than the national average of 0.89%. Property taxes in Texas are administered at the county level, so your actual rate may vary depending on where you buy. Some counties offer exemptions for first-time homebuyers, veterans, and seniors that can reduce your effective tax rate.

What first-time buyer programs are available in Texas?
Texas offers several first-time buyer programs including: My First Texas Home, TSAHC Home Sweet Texas, Texas MCC Program. These programs typically offer below-market interest rates, down payment assistance, and flexible credit requirements. Eligibility often depends on income limits, purchase price limits, and completion of a homebuyer education course. Contact your local housing authority or a participating lender to learn more about specific programs available in Texas.

What is the average home price in Texas in 2026?
The average home price in Texas is currently $315,000. This varies significantly by region within the state — Houston tends to have higher prices than rural areas. Texas's capital is Austin. First-time buyers in Texas typically put down 6% as a down payment, though some programs allow for lower down payments with mortgage insurance.

How much do I need for a down payment in Texas?
In Texas, first-time buyers typically put down 6% of the home price. For the average Texas home of $315,000, this would be approximately $18,900. However, many first-time buyer programs in Texas allow down payments as low as 3-5%, and some offer down payment assistance grants or loans that can cover part or all of this cost.

How is monthly mortgage payment calculated in Texas?
Monthly mortgage payment in Texas is calculated using the PITI formula: Principal + Interest + Taxes + Insurance. Your monthly payment = (Home Price - Down Payment) × [monthly rate × (1 + monthly rate)^months] / [(1 + monthly rate)^months - 1] + (Property Tax / 12) + (Annual Insurance / 12). Using Texas's average figures of $315,000 home price, 6% down, 7.1% interest rate, and 1.6% property tax rate helps estimate your true monthly cost.