Estimate your monthly mortgage payment in Texas — principal & interest plus Texas property tax and homeowner’s insurance.
Buying a home in Texas: what to know
Tilting toward buyers: the statewide Zillow typical value of $299,367 (Aug 2026) is down ~2% YoY with ~163,000 homes listed and over 61% of homes selling below asking, giving Texas buyers more choice and negotiating room than in recent years (texasvetrealtygroup market report, Oct 2026, citing Zillow). With a median home price of $299,367 (Zillow ZHVI, Aug 2026), 20% down means borrowing about $239,494 — within the 2026 conforming limit of $832,750 for most Texas counties. Property taxes run about 1.4% of assessed value (effective rate), and insurance averages $2,397 a year statewide — both baked into the calculator above. First-time buyers should check out TSAHC Home Sweet Texas Home Loan Program and TSAHC Homes for Texas Heroes Program before shopping lenders.
Texas mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 |
| Median home price | $299,367 |
| Median effective property tax rate | 1.4% |
| Average homeowner’s insurance | $2,397/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (Aug 2026), Tax Foundation (2026 (2024 ACS data)), NAIC via Insurance Information Institute (2022 (published May 2025)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Texas first-time buyer programs
- TSAHC Home Sweet Texas Home Loan Program — 30-year fixed-rate mortgage plus up to 5% of the loan amount in down payment assistance as either a true grant (never repaid) or a forgivable second lien forgiven after 3 years; open to low/moderate-income buyers including repeat buyers; first-time buyers may also get a Mortgage Credit Certificate (15% of mortgage interest as a federal tax credit). Official site
- TSAHC Homes for Texas Heroes Program — Same DPA structure as Home Sweet Texas (up to 5% of loan amount as grant or forgivable second lien) for teachers, firefighters, EMS personnel, police officers, and veterans — no first-time-buyer requirement for Heroes occupations. Official site
How to use this calculator
Start with Texas’s median home price (pre-filled above) or type the price of a home you’re eyeing. The calculator assumes 20% down — the threshold that avoids private mortgage insurance on conventional loans — and applies Texas’s median property tax rate and average insurance premium so the monthly figure reflects the true cost of owning, not just principal and interest. Adjust the rate to a quote you’ve received; even half a point moves the payment by hundreds on a Texas-priced home. Compare a 15-year term against 30 years to see the lifetime-interest tradeoff before you commit.
Worked example: a median Texas home
Take a median-priced Texas home at $299,367. With 20% down ($59,873), the loan amount is $239,494. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $1,658.21/month. Add property tax of about $349.26/month (1.4% of $299,367, divided by 12) and insurance of about $199.75/month ($2,397 a year), for a total estimated payment of $2,207.22/month. Over 30 years, total interest would be about $357,460. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Texas for 2026?
The 2026 baseline conforming loan limit for a one-unit property is $832,750 across most of Texas, per the FHFA’s November 2025 announcement.
How much are property taxes in Texas?
The median effective property tax rate in Texas is about 1.4% of a home’s assessed value (Tax Foundation, 2026 (2024 ACS data)). On a $299,367 home, that’s roughly $4,191 a year, or $349.26 a month — already included in the calculator above. Actual bills vary by county and municipality.
What is the Texas homestead exemption in 2026?
The mandatory school-district homestead exemption is $140,000 (raised from $100,000 by voter-approved Proposition 13 in Nov 2025, via SB 4), plus an extra $60,000 for homeowners 65+ or disabled (total $200,000 off school-taxable value); file Form 50-114 with your county appraisal district — it is not automatic.
Is there a cap on how fast my appraised value can rise in Texas?
Yes — a 10% per-year cap on appraised-value increases applies to homestead properties (Tax Code 23.23); market value can rise faster, but taxable value cannot.
Does Texas really have no state income tax — and how does that affect property taxes?
Correct — Texas has no state income tax and no state property tax; local entities (school districts, counties, cities) levy property taxes, which is why rates are high (~1.40% effective) and local-rate variation matters more than the state average.