Texas Mortgage Calculator
Estimate monthly housing payments for a Texas home: principal and interest, plus optional property tax, insurance and HOA.
Principal and interest formula
Fixed-rate loans use standard amortization:
M = P × [r(1 + r)ⁿ] / [(1 + r)ⁿ − 1]
| Symbol | Meaning |
|---|---|
| M | Monthly principal and interest payment |
| P | Loan amount (home price minus down payment) |
| r | Monthly interest rate (annual rate ÷ 12) |
| n | Total number of monthly payments (years × 12) |
Texas property taxes
Texas has no state income tax, but property taxes are set locally. Enter your expected annual tax bill; rates vary by county, city and school district.
Mortgage calculator FAQ
- What does a Texas mortgage payment include?
- This calculator can show principal and interest plus optional property tax, homeowners insurance, and HOA. Your lender may escrow taxes and insurance.
- How is the monthly principal and interest payment calculated?
- We use the standard amortizing loan formula: monthly rate, loan amount, and number of payments over the term you select.
- Are Texas property taxes included automatically?
- No. County and school district tax rates vary. Enter your expected annual property tax or leave it at zero to see principal and interest only.
- Does this include PMI or closing costs?
- No. PMI, points, and closing costs are not modeled. Use lender quotes for those items.