United States · Texas

Texas mortgage calculator

Estimate your monthly payment in Texas — principal & interest, property tax, and insurance — using the live national average rate and Texas's estimated ~1.68% effective property tax rate. Adjust any figure below.

Affording a home in Texas

Stretched

Median home price: $302,000
Income needed: $87,000; to qualify (28% rule, 20% down)
Typical household income: $68,000
Income gap: +$19,000

A median Texas home costs $302k and needs $19k more annual income than the typical household earns.

Data as of 2026-06-30. Sources: Zillow ZHVI, U.S. Census ACS, Splitero. Median is a statewide figure — expensive cities and more affordable rural areas vary widely.

Most Texas buyers combine two incomes — here's why

The typical Texas household earns $68,000/year. To buy a median-priced home, lenders generally want to see $87,000/year. That's a $19,000 gap — which is why many Texas buyers combine two incomes, choose a smaller first home, or put down a larger deposit to reduce the loan. None of these is the wrong choice; knowing the gap is the starting point.

The roles and income paths that commonly reach it in Texas are listed below — some single high-earning roles, some two incomes combined.

Roles and income paths that commonly meet the income in Texas

Software developer
Engineer
Healthcare worker
Nurse

Pay varies widely by employer, experience, and city — these are paths that often (not always) reach the income needed, not a guarantee for any individual. Entries like “+ partner income” mean two incomes combined.

First-time buyer programs available in Texas

TDHCA My First Texas Home
Texas Mortgage Credit Certificate
Home Sweet Texas

Programs and their terms change — verify current availability and eligibility with the official state housing agency before relying on any of these.

What makes Texas legally different for homebuyers

Texas has one of the strongest homestead exemptions in the country — unlimited value for your primary residence against judgment creditors (not mortgage lenders). Texas also has unique home equity loan rules: borrowing is capped at 80% combined LTV, requires a 12-day cooling-off period before closing, and cannot close at the property itself.

If you buy here

Texas property taxes are among the highest in the nation at 1.5–2.5%+ of home value annually. This is the single most commonly underestimated cost for first-time Texas buyers. On a $300,000 home, budget $4,500–$7,500/year in property taxes alone.

Foreclosure: nonjudicial, ~2 mo
Post-sale redemption: None
Anti-deficiency protection: No

General overview only — laws change and individual situations vary. Consult a real estate attorney for advice specific to your purchase. (Verified 2026-06-30.)

A clean, printable one-page summary — free, no account needed.

Loan details

Understanding your numbers before you sign.

A mortgage is likely the largest financial commitment of your life. The Mortgage Ledger was built so you can explore what that commitment actually looks like — payment by payment, line by line — before you're sitting across from a lender.

Rates sourced from FRED (Federal Reserve Bank of St. Louis). Estimates only — not a loan offer.

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