Texas Mortgage Calculator
Estimate the monthly PITI payment on a Texas home. Preseeded with the state’s 1.63% effective property-tax rate, $3,900 average annual insurance, and $300,000 median home price.
Loan Parameters
$
$
Percentage
20.0 %
Loan Term
Advanced Options
$
Monthly Payment (PITI)
$2,349
- Principal & Interest
- $1,517
- Property Taxes
- $408
- Home Insurance
- $325
- PMI
- $100
Total Interest
$306,107
Total Cost
$809,807
Payoff Year
2056
Texas Property Tax, Insurance & Home Prices
- Effective property-tax rate
- 1.63%
- Avg annual insurance
- $3,900
- Median home price
- $300,000
Statewide averages, last reviewed May 2026. Actual rates and premiums vary significantly by county, city, and parcel — see the notes below.
Notable Texas Rules
Texas has no state income tax, but compensates with high property-tax rates. The general homestead exemption removes $100,000 from the school-district portion of the assessment (raised in 2023). Annual taxable-value increases on homesteaded properties are capped at 10%. Disaster insurance (especially wind/hail along the Gulf Coast) adds substantially to the homeowners-insurance bill.
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Frequently Asked Questions
- Texas's statewide effective property-tax rate is approximately 1.63% of home value (last reviewed May 2026). Actual county- and city-level rates vary; check your specific parcel before budgeting.