Mortgage Calculator Austin

Welcome to our comprehensive mortgage calculator Austin. Whether you're planning to buy a home in Austin, Texas, or refinance your current property, our mortgage calculator Austin Texas is here to assist you.

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Principal & Interest 1421

Monthly Taxes 1421

Monthly HOA 1421

Monthly Insurance 1421

With our user-friendly and accurate mortgage calculator Austin, you can estimate your monthly payments, explore different loan options, and plan your budget effectively.

Take advantage of our specialized mortgage calculator Austin Texas to tailor your calculations to this specific area. Start using our mortgage calculator Austin today and make informed decisions about your Austin home financing.

mortgage calculator Austin

mortgage rates in Austin

Here are the current mortgage rates in Austin, Texas as of March 8, 2023:

  • 30-year fixed-rate mortgage: 6.975%
  • 15-year fixed-rate mortgage: 5.972%
  • 5-year adjustable-rate mortgage (ARM): 6.675%
  • 7-year ARM: 6.875%
  • 10-year ARM: 6.975%

Average Monthly Mortgage Payment In Texas

The average monthly mortgage payment in Texas is $2,456. This is based on a 30-year fixed-rate mortgage with a 20% down payment and a credit score of 740.


The average home price in Texas is $370,000. So, if you put down 20%, you would need to borrow $296,000. With a 30-year fixed-rate mortgage at 6.975%, your monthly payment would be $2,456.Of course, the actual amount you pay each month will depend on the specific terms of your loan. For example, if you put down less than 20%, you will have to pay private mortgage insurance (PMI). PMI can add an additional $100 or more to your monthly payment.


The average monthly mortgage payment in Texas is higher than the national average of $1,895. This is because home prices in Texas are higher than the national average.

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How Much Is Mortgage Insurance In Texas?

Mortgage insurance in Texas is typically required if you put down less than 20% on your home purchase. The cost of mortgage insurance will vary depending on the lender and the type of loan you choose.

However, as a general rule, mortgage insurance can add an additional $100 or more to your monthly mortgage payment.

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What Is The Income Limit For First Time Home Buyers In Texas?

The income limit for first time home buyers in Texas varies depending on the county you live in. However, as a general rule, the income limit for first time home buyers in Texas is $120,000 for a single person and $225,000 for a married couple.

What Is The Interest Rate On A House In Austin?

The interest rate on a house in Austin will vary depending on your credit score, the amount of your downpayment, and the type of loan you choose. However, as of March 8, 2023, the average interest rate on a 30-year fixed-rate mortgage in Austin is 6.975%.

What Is The Most Common Mortgage In Texas?

The most common mortgage in Texas is the conventional mortgage. Conventional mortgages typically have lower interest rates than government-insured loans, such as FHA or VA loans.

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Mortgage Calculator Austin-FAQs:

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Which part of Austin is the cheapest?

The cheapest part of Austin is East Austin. The median home price in East Austin is $450,000, which is significantly lower than the median home price in other parts of Austin.

How much is a downpayment on a house in Austin?

The minimum downpayment on a house in Austin is typically 20%. However, there are some government-insured loans that allow for a downpayment of as little as 3.5%.

Is it hard to buy a house in Austin Texas?

Yes, it can be hard to buy a house in Austin Texas. The housing market in Austin is very competitive, and home prices are rising rapidly. If you are considering buying a house in Austin, it is important to be prepared to act quickly and make an offer that is competitive.

Is property in Austin Texas expensive?

Yes, property in Austin Texas is expensive. 

How much is closing costs in Texas?

Closing costs in Texas can vary depending on the price of the home, the type of loan you choose, and the lender you choose. However, as a general rule, closing costs in Texas can range from 2% to 5% of the purchase price of the home.

Mortgage Calculator Austin