Texas Mortgage Calculator 2026

Calculate your monthly mortgage payment for a home in Texas (TX). The median home price in Texas is $350,000, with an effective property tax rate of 1.58% (ranked #7 nationally). Use our free calculator to compare FHA, VA, USDA, and conventional loan options with real Texas data.

Texas Property Tax Information

Texas has an effective property tax rate of 1.58%, ranking #7 among all 50 states. The median annual property tax is $4,111 ($343/month). Source: Tax Foundation 2025.

Texas Loan Limits 2026

FHA loan limit in Texas: $524,225 (floor) to $524,225 (ceiling for high-cost areas). Conforming loan limit: $806,500 (baseline) to $806,500 (ceiling).

Estimated Monthly Payment in Texas

For a median-priced home of $350,000 with 20% down ($70,000), at 6.5% interest over 30 years: estimated monthly principal and interest is $1,770, plus $343 in property taxes and approximately $125 in homeowner's insurance, for a total estimated payment of approximately $2,238/month.

Texas Closing Costs

Average closing costs in Texas are $3,713 (0.93% of purchase price), ranked #23 nationally. Texas does not charge a transfer tax. Source: Bankrate/LodeStar 2025.

Texas Housing Market 2026

Home prices in Texas have decreased 0.5% year-over-year. Average days on market: 52. Inventory level: moderate. Currently considered a buyer's market.

Down Payment Assistance Programs in Texas

Texas offers 3 down payment assistance programs through Texas Department of Housing and Community Affairs (TDHCA):

  • My First Texas Home (second mortgage): 0% interest, deferred payment for first-time buyers. - Up to Up to 5% of loan amount
  • My Choice Texas Home (second mortgage): For repeat buyers. 0% interest, deferred payment. - Up to Up to 5% of loan amount
  • Texas Heroes Program (forgivable loan): For teachers, veterans, first responders. Rate discount. - Up to Up to 5% + reduced rate

Contact TDHCA: https://www.tdhca.state.tx.us | Phone: 512-475-3800

Did You Know About Texas?

  • Texas has no state income tax but higher property taxes (7th highest)
  • No transfer tax on real estate transactions
  • Appraisal caps limit annual property tax increases to 10%
  • Major metros (Dallas, Houston, Austin, San Antonio) have distinct markets

Frequently Asked Questions About Buying a Home in Texas

What is the average property tax rate in Texas?

The effective property tax rate in Texas is 1.58%, with a median annual tax of $4,111. This ranks #7 among all states.

What are the FHA loan limits in Texas for 2026?

The FHA loan floor in Texas is $524,225 and the ceiling is $524,225 for high-cost areas. The conforming loan limit baseline is $806,500.

How much are closing costs in Texas?

Average closing costs in Texas are $3,713, which is approximately 0.93% of the purchase price.

Are there first-time homebuyer programs in Texas?

Yes, Texas offers 3 down payment assistance programs through Texas Department of Housing and Community Affairs, including grants, forgivable loans, and second mortgages.

Is Texas a good place to buy a home in 2026?

With a median home price of $350,000 and moderate inventory, Texas is currently a buyer's market. Home prices have decreased 0.5% over the past year.

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Data last updated: 2025-11. This information is for educational purposes only and should not be considered financial advice.