Texas Mortgage Calculator 2026

The Texas Mortgage Calculator estimates your complete monthly housing cost — principal, interest, property tax, insurance, and PMI — using real 2026 data for Texas. Enter any home price, down payment, and rate to get an instant PITI breakdown.

How Texas Mortgage Rates Compare in 2026

The average 30-year fixed mortgage rate in Texas is approximately 7.0% in 2026 — 0.20 percentage points above the 6.80% national average. Rates in Texas are influenced by local housing demand, median credit scores, and the share of conforming versus jumbo loans in the market.

On a $310,000 home with 20% down, a 7.0% rate produces a monthly principal and interest payment of approximately $1,650. A 0.25% rate increase adds roughly $31 to your monthly payment, so shopping multiple lenders can save thousands over the life of the loan.

Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk. Most Texas homebuyers choose 30-year fixed loans for payment predictability, especially with home prices currently at $310,000. FHA loans (3.5% down) and VA loans (0% down for veterans) are also popular in Texas.

Last updated: May 2026. Rates shown are estimates based on national Freddie Mac data adjusted for Texas market conditions.

Texas-Specific Closing Costs and Fees

Beyond your down payment, Texas homebuyers pay closing costs averaging 2–5% of the loan amount. On a $248,000 loan, that is approximately $4,960–$12,400 due at closing. Key fees include:

• Origination fee: 0.5–1% of the loan amount for lender processing.
• Title insurance: Protects against prior ownership claims. Required by most Texas lenders.
• Appraisal: $400–$700 to confirm the home value matches the purchase price.
• Prepaid property taxes: Texas lenders typically collect 2–3 months of property tax at closing into an escrow account. At 1.6%, that is approximately $1,240 upfront.
• Homeowners insurance: First year premium (~$2,300) is usually paid at closing.
• Transfer taxes: Vary by county in Texas — ask your agent for local rates.

Some of these costs are negotiable. Sellers sometimes cover a portion of buyer closing costs as a concession, particularly in slower Texas markets.

First-Time Buyer Programs in Texas

Texas State Affordable Housing Corporation (TSAHC) and My First Texas Home provide down payment assistance up to 5%. These programs can reduce the cash needed to close by thousands of dollars, making homeownership more accessible in Texas's current market.

FHA loans are available nationwide and require only 3.5% down with a 580+ credit score — ideal for first-time buyers in Texas who have limited savings. USDA loans offer 0% down for eligible rural properties in Texas. VA loans are available to qualified veterans and active-duty service members with no down payment required and no PMI.

If your down payment is below 20%, Private Mortgage Insurance (PMI) adds approximately $124/month to your payment at a 0.6% annual rate. PMI can be removed once your loan-to-value ratio reaches 80%, so making extra payments accelerates the timeline to dropping PMI.