Texas Mortgage Calculator
No state income tax, but property taxes that run near double the national average.
A mortgage payment in Texas is usually dominated by property taxes, which average about 1.7% of home value per year, roughly double the national average. There is no state income tax, which helps overall affordability, but the property tax bill is a permanent monthly line item for as long as you own the home.
Texas homeowners also pay above-average homeowners insurance because of hail, severe storms, and wind exposure in coastal areas. Together, tax and insurance can add several hundred dollars to a monthly payment that otherwise looks affordable on principal and interest alone.
Assumptions & Review
Last reviewed: August 2026 · The Mortgage Curve editorial team
These are rough planning assumptions, not precise quotes. The tax figure is a dated state-level effective-rate reference; the insurance figure is an editorial percentage estimate. Your actual property tax depends on your county, city, school district, and assessed value, and your insurance premium depends on your carrier, coverage, deductible, and local risk.
Methodology: the tax percentage is a 2024 owner-occupied effective-rate planning reference; insurance and home-price figures are editorial estimates informed by public data and reviewed in August 2026. Verify them with your county assessor, insurer, or lender before relying on the estimate. See the U.S. Census housing data reference.
View sources and methodology
Tax reference: Tax Foundation 2024 property-tax data ↗. Insurance context: Insurance Information Institute homeowners-insurance data ↗. Insurance and home-price values on this page remain editorial estimates; these references do not replace a local tax bill or insurance quote.
- Texas property tax default: 1.4% of home value per year
- Texas insurance default: 0.55% of home value per year
- Interest rate: 6.5%, 30-year term, 20% down
- PMI: 0.5% of loan per year when below 20% down; modeled flat and not automatically canceled
Calculate a Texas Mortgage
The calculator starts with an illustrative $350,000 home, a 20% down payment, a 6.5% rate, and a 30-year term, using the Texas property-tax reference of 1.4% and the editorial insurance estimate of 0.55%. Adjust any value to see the monthly payment change in real time.
Adjust the numbers
Texas property tax and insurance defaults are pre-loaded. Edit any value.
Estimated Monthly Costs
PMI applies only when the down payment is below 20%.
Estimated Monthly Payment
Monthly Payment by Home Price in Texas
Using the Texas state-level tax (1.4%) and insurance (0.55%) defaults, 20% down, 6.5%, 30-year.
| Home Price | Loan (20% down) | Principal & Interest | Taxes | Insurance | Total Payment | Total Interest | Try It |
|---|---|---|---|---|---|---|---|
| $250,000 | $200,000 | $1,264.14 | $291.67 | $114.58 | $1,670.39 | $255,089 | Open calculator |
| $350,000 | $280,000 | $1,769.79 | $408.33 | $160.42 | $2,338.54 | $357,125 | Open calculator |
| $500,000 | $400,000 | $2,528.27 | $583.33 | $229.17 | $3,340.77 | $510,178 | Open calculator |
State-level defaults only. Replace them with your county's tax bill and an actual insurance quote for a precise figure.
What's Different About Texas?
Property Tax
School, city, county, and special-district tax rates combine into your total. Average effective rate ≈ 1.7% of home value per year, with material differences between metro areas and from one school district to the next.
Homeowners Insurance
Rough state-level estimate ≈ 0.55% of home value per year. Coastal counties and hail-prone regions can run far higher, and wind/hail deductibles often apply.
Local Variation
- School districts: M&O (maintenance & operations) and I&S (interest & sinking) school rates are the largest slice of the Texas tax bill and vary widely.
- Coastal exposure: Gulf counties carry the highest wind and hurricane insurance risk, which can push the monthly estimate higher.
- Homestead exemption: The Texas homestead exemption removes part of your home value from taxation and caps school tax growth, lowering your actual bill.
Compare Other State Mortgage Estimates
Florida (FL)
Hurricane-driven insurance costs can rival your principal and interest payment.
California (CA)
Prop 13 keeps rates low, but high prices and wildfire insurance shape the payment.
New York (NY)
High prices downstate and property taxes averaging 1.4% of value.
New Jersey (NJ)
The highest effective property tax rate in the US, near 2.3%.
Illinois (IL)
High property taxes on top of a heavy state and local tax burden.
Massachusetts (MA)
High prices, moderate taxes, and a 2.5% property tax levy cap.
Arizona (AZ)
Phoenix-led demand keeps Arizona a top buyer destination.
Georgia (GA)
Atlanta-led growth with property taxes near the national average.
Tennessee (TN)
No state income tax and a low property tax make Tennessee a fast-growing target.
North Carolina (NC)
Lower prices and taxes, offset by coastal storm insurance.
Pennsylvania (PA)
High property taxes and municipal Earned Income Tax (EIT) shape overall housing costs.
Ohio (OH)
Affordable home prices offset by high Midwest property tax rates.
Michigan (MI)
Headlee Amendment caps assessment growth until a home is sold.
Wisconsin (WI)
High property tax rates paired with stable midwestern housing costs.
South Carolina (SC)
Low 4% primary residence tax rate, but secondary homes pay 6%.
Nevada (NV)
No state income tax, low property taxes, and a 3% primary tax cap.
Colorado (CO)
Low property tax rates offset by high home prices and wildfire insurance premiums.
Washington (WA)
No personal state income tax with strong home equity appreciation.
Virginia (VA)
Moderate real estate tax rates, but Northern Virginia home prices require careful planning.
Alabama (AL)
Lowest property tax rates in the nation offset by coastal hurricane insurance risk.
Alaska (AK)
No state sales or income tax, with property taxes levied primarily by organized boroughs.
Arkansas (AR)
Low property tax rates and affordable Midwestern housing costs.
Connecticut (CT)
High property taxes levied by individual towns without county government.
Delaware (DE)
No state sales tax, low property taxes, and strong East Coast relocation demand.
District of Columbia (DC)
Low effective property tax rate offset by high urban real estate prices.
Hawaii (HI)
Lowest effective property tax rate in the US paired with highest home values.
Idaho (ID)
Rapid home price growth supported by low property tax rates.
Indiana (IN)
Constitutional 1% property tax cap protects primary homeowners.
Iowa (IA)
High property tax rates paired with low Midwestern purchase prices.
Kansas (KS)
Moderate home prices with elevated severe weather insurance rates.
Kentucky (KY)
Moderate property tax rates and strong overall housing affordability.
Louisiana (LA)
Generous $75,000 Homestead Exemption offset by nation-leading hurricane insurance rates.
Maine (ME)
Town-level property tax millage paired with low natural disaster risk.
Maryland (MD)
Triennial assessment system with local Homestead Tax Credit caps.
Minnesota (MN)
Tiered class rates and Homestead Market Value Exclusion.
Mississippi (MS)
10% assessment ratio and low median home prices offset by Gulf hurricane insurance.
Missouri (MO)
19% residential assessment ratio with stable Midwest home values.
Montana (MT)
No state sales tax, low property tax rates, and rapid mountain market growth.
Nebraska (NE)
High property tax rates combined with high wind and hail insurance premiums.
New Hampshire (NH)
No state sales or wage income tax, funded by high local property tax rates.
New Mexico (NM)
33.3% assessment ratio and 3% annual valuation growth caps.
North Dakota (ND)
50% assessment ratio and Primary Residence Credit relief.
Oklahoma (OK)
Low property tax rates offset by high Tornado Alley insurance premiums.
Oregon (OR)
Measure 50 caps maximum assessed value growth at 3% per year.
Rhode Island (RI)
Town-level millage rates with coastal storm insurance considerations.
South Dakota (SD)
No state income tax, with property tax funding local schools and counties.
Utah (UT)
45% primary residential exemption keeps effective property taxes low.
Vermont (VT)
Statewide Education Property Tax with Homestead income sensitivity adjustments.
West Virginia (WV)
Class II 60% assessment ratio and lowest median home prices.
Wyoming (WY)
No state income tax, 9.5% assessment ratio, and mineral-revenue funded operations.
Texas Mortgage FAQs
State-level defaults explained, and why your real numbers will differ.
1How is this state mortgage estimate calculated?
It uses the standard fixed-rate amortization formula for principal and interest, then adds a rough state-level property tax estimate and a rough state-level homeowners insurance estimate. Tax and insurance are based on percentages of home value, not a precise quote.
2Why is this not a precise quote?
These are state-level defaults meant for quick comparison. Your actual property tax depends on your county, city, school district, exemptions, and assessed value, and your insurance premium depends on your carrier, coverage, deductible, and local risk. Replace the defaults with your own figures in the calculator for a more accurate estimate.
3How do I get a more accurate estimate?
Open the prefilled calculator for the state, then update the property tax and insurance estimates with the figures from your tax bill, insurance quote, or lender's Loan Estimate. The calculator updates in real time and runs entirely in your browser.
4Why is property tax so high in Texas when there is no state income tax?
Texas funds schools and local services primarily through property tax rather than income tax. Because there is no state income tax, the property tax carries much of the load, producing effective rates near 1.7% of home value, about double the national average.
5How much does homeowners insurance add to a Texas mortgage payment?
Using a rough state-level estimate of 0.55% of home value per year, a $350,000 home adds about $160 per month for insurance before factoring in hail, storm, or coastal wind risk, which can push that figure higher.
Calculate Your Exact Texas Mortgage
Open the free mortgage calculator with this page's typical Texas scenario prefilled, then replace the state defaults with your own home price, down payment, rate, tax, and insurance figures.
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