Mortgage Calculator Texas

Use our free mortgage calculator Texas to estimate monthly payments accurately.

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Principal & Interest 1421

Monthly Taxes 1421

Monthly HOA 1421

Monthly Insurance 1421

With our user-friendly mortgage calculator for Texas, you can explore various financing options and plan your budget wisely. Whether you're a first-time buyer or looking to refinance, our mortgage calculator in Texas is here to simplify your journey.

Trust our reliable Texas mortgage calculator to guide you through the process and make well-informed decisions.

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How To Use A Texas Mortgage Calculator?

To use a Texas mortgage calculator, you will need to enter the following information:

  • Home price: The purchase price of the home you are interested in buying.
  • Down payment: The amount of money you will be putting down on the home.
  • Mortgage rate: The interest rate you will be charged on the loan.
  • Loan term: The number of years you will have to repay the loan.

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What Factors Affect Your Mortgage Payment in Texas?

The following factors affect your mortgage payment in Texas:

  • Home price: The purchase price of the home is the biggest factor that will affect your monthly mortgage payment.  high the home price, the high your monthly payment will be.

  • Down payment: The amount of money you put down on the home will also affect your monthly payment. A larger down payment will lower your monthly payment.

  • Mortgage rate: The interest rate you are charged on the loan is another important factor that will affect your monthly payment. A higher interest rate will mean a higher monthly payment.

  • Loan term: The number of years you have to repay the loan will also affect your monthly payment. A shorter loan term will be mean a higher monthly payment, but you will pay less interest over the life of the loan.

  • Property taxes and homeowners insurance: These costs are typically added to your monthly mortgage payment. Property taxes and homeowners insurance costs vary depending on the location and value of the home.

How To Reduce Your Mortgage Payment In Texas

Here are some ideas for lowering your mortgage payment in Texas:


  • Make a larger down payment.
  • Choose a shorter loan term.
  • Get a lower interest rate.
  • look around for different mortgage lenders.
  • Deal with a government-backed loan program, such as an FHA loan or VA loan.


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How To Get The Best Mortgage Rate In Texas?

Following these steps helps you to get the best mortgage rate in Texas:

  • Approach multiple lenders to compare rates: Don’t just go with the first lender you find. Get quotes from various lenders to make sure you are getting the best rate possibly.

  • Always try to get pre-approved for a mortgage: This will build a trust factors on lenders that you are serious about buying a home and that you have already been approved for a loan.

  • Optimize your credit score: A good credit score is beneficial for you to qualify for a lower interest rate.

  • Try to take a larger down payment: The larger your down payment, the lower your loan amount will be.

  • Try to take a shorter loan term: Shorter loan terms typically have lower interest rates. Yet, your monthly payments will be higher with a shorter loan term.

  • Try to take a government-backed loan program: Government-backed loan programs, such as FHA loans and VA loans, often have lower interest rates than conventional loans. However, these programs may have other requirements, such as a down payment requirement or a credit score requirement.

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First-Time Homebuyer Requirements Texas

Here are some of the general requirements for first-time homebuyers in Texas:


  • Minimum credit score: Most lenders require a minimum credit score of 620 for first-time homebuyers. However, some lenders may be willing to work with borrowers with lower credit scores.

  • Down payment: The minimum down payment for a conventional loan is 3%. Yet, some lenders may require a higher down payment for first-time homebuyers.

  • Debt-to-income ratio: The maximum debt-to-income ratio for a conventional loan is 43/12 which means that your total monthly debt payments, including your mortgage payment, should not exceed 43% of your gross monthly income.

  • Employment and income: You must have a steady job and a verifiable income in order to qualify.

  • Homeowner's insurance: You will need to purchase homeowner's insurance before you close on your loan.

Grants For First-time Home Buyers in Texas

Some of the most popular grants available to first-time homebuyers in Texas include:

  • Texas State Affordable Housing Corporation (TSAHC) Down Payment Assistance Grant: This grant provides up to 5% of the purchase price of a home to first-time homebuyers with low to moderate incomes.

  • Texas Veterans Land Board (VLB) Home Loan Program: This program provides low-interest loans to eligible Texas veterans and their spouses. Veterans can also qualify for a down payment assistance grant of up to $10,000.

  • USDA Rural Development Home Loan Programs: These programs provide low-interest loans and down payment assistance to eligible borrowers in rural areas.

  • City and county government programs: Many cities and counties in Texas offer their own homebuyer assistance programs. To find out what programs are available in your area, contact your local housing authority.

Texas First Time Home Buyer Benefits

There are a number of benefits available to first-time homebuyers in Texas, including:

  • Down payment assistance
  • Lower interest rates
  • Tax breaks
  • Flexible loan options

What Are Commercial Mortgage Rates Texas

Commercial mortgage rates in Texas depends on a number of factors, including the property type, loan amount, loan term, and the borrower's creditworthiness. yet, as of October 2023, commercial mortgage rates in Texas range from 5.38% to 15%.

Mortgage Down Payment Requirements Texas

Here is a summary of the mortgage down payment requirements in Texas:

Conventional Loan: 3% minimum down payment, but some lenders may require a higher down payment for borrowers with lower credit scores or higher debt-to-income ratios.


  • FHA Loan: 3.5% minimum down payment.
  • VA Loan: No down payment required for eligible borrowers.
  • USDA Loan: No down payment required for eligible borrowers.

What Are Types of Mortgage Texas?

There are many different types of mortgages available in Texas, but the most common include:


  • Conventional loans: Conventional loans are not insured by the government, but they typically offer less interest rates and more flexible. Conventional loans typically require a down payment of at least 3%, but some lenders may require a higher down payment.


  • FHA loans: FHA loans are insured by the Federal Housing Administration (FHA). FHA loans generally require a down payment of at least 3.5%.


  • VA loans: VA loans are guaranteed by the Department of Veterans Affairs (VA), and they are available to suitable veterans and their spouses.

  • USDA loans: USDA loans are guaranteed by the United States Department of Agriculture (USDA), and they are available for borrowers who are likely to purchase a home in a rural area.

5 Steps to Buying a House in Texas

Here are 5 steps to follow buying a house in Texas:


  • Get pre-approved for a mortgage: This will give you a good idea of how much money you can afford to borrow and will make you a more attractive buyer to sellers.


  • Find a real estate agent: A real estate agent help you to find the right home for your needs and budget, and can also help you to negotiate the best price.


  • Start buying for homes: Once you have a real estate agent, you can start shopping for homes. Be sure to consider your needs and budget.


  • Make an offer: Once you have found a home that you are excited in, you will need to make an offer in which Your real estate agent can help you.


  • Close on the house: Once your offer has been accepted, you will need to close on the house. This involves signing all of the necessary paperwork and paying the seller.

Current Mortgage Rates Texas

As of October 10, 2023, according to Bankrate, The current mortgage rate in Texas City are as follows:


  • 30-year fixed mortgage: 7.98%
  • 15-year fixed mortgage: 6.98%
  • 5/1 adjustable-rate mortgage (ARM): 7.64%

Mortgage Rates Texas History

Mortgage rates in Texas have fluctuated over time, but they have generally been lower than the national average. In recent years, mortgage rates have been at or near historic lows.


Here is a chart of average 30-year fixed mortgage rates in Texas from 2010 to 2023:

  • 2010 4.80
  • 2011 4.44
  • 2012 3.75
  • 2013 4.04
  • 2014 4.16
  • 2015 3.93
  • 2016 3.65
  • 2017 4.16
  • 2018 4.59
  • 2019 3.94
  • 2020 2.65
  • 2021 2.96
  • 2022 5.13
  • 2023 (October 10) 7.98

Current Mortgage Rate Austin, TX

As of October 10, 2023, the current average mortgage rates in Austin, TX are as follows:



10-year term


  • Conventional Loan: 6.656%
  • FHA Loan: 6.791%
  • VA Loan: 6.831%
  • USDA Loan: 6.791%

15-year term


  • Conventional Loan: 6.794%
  • FHA Loan: 7.009%
  • VA Loan: 7.049%
  • USDA Loan: 7.009%

30-year term


  • Conventional Loan: 7.98%
  • FHA Loan: 8.025%
  • VA Loan: 8.075%
  • USDA Loan: 8.025%

Current Mortgage Rates in Corpus Christi TX 

The current mortgage rates in Corpus Christi, TX for Conventional, FHA, VA, and USDA loans, as of October 10, 2023, for 10-year, 15-year, and 30-year terms, not in table:


10-year term


  • Conventional Loan: 6.656%
  • FHA Loan: 6.791%
  • VA Loan: 6.831%
  • USDA Loan: 6.791%

15-year term


  • Conventional Loan: 6.794%
  • FHA Loan: 7.009%
  • VA Loan: 7.049%
  • USDA Loan: 7.009%

30-year term


  • Conventional Loan: 7.98%
  • FHA Loan: 8.025%
  • VA Loan: 8.075%
  • USDA Loan: 8.025%

El Paso Texas Mortgage Rates

The current El Paso tx mortgage rates for Conventional, FHA, VA, and USDA loans, as of October 10, 2023:

10-year term


  • Conventional Loan: 6.656%
  • FHA Loan: 6.791%
  • VA Loan: 6.831%
  • USDA Loan: 6.791%

15-year term


Conventional Loan: 6.794%

  • FHA Loan: 7.009%
  • VA Loan: 7.049%
  • USDA Loan: 7.009%

30-year term


  • Conventional Loan: 7.98%
  • FHA Loan: 8.025%
  • VA Loan: 8.075%
  • USDA Loan: 8.025%

Current Mortgage Rate Dallas

The average mortgage rates in Dallas, Texas for different types of loans are as follows:


10-year term

  • Conventional Loan: 6.625%
  • FHA Loan: 6.760%
  • VA Loan: 6.800%
  • USDA Loan: 6.760%

15-year term

  • Conventional Loan: 6.765%
  • FHA Loan: 7.000%
  • VA Loan: 7.040%
  • USDA Loan: 7.000%

30-year term

  • Conventional Loan: 7.925%
  • FHA Loan: 7.970%
  • VA Loan: 8.020%
  • USDA Loan: 7.970%

Current Mortgage Rate Houston

The average current mortgage rates in Houston, Texas for different type of loans as of October 10, 2023, are as follows:

10-year term


  • Conventional Loan: 6.96%
  • FHA Loan: 7.095%
  • VA Loan: 7.135%
  • USDA Loan: 7.095%

15-year term


  • Conventional Loan: 7.03%
  • FHA Loan: 7.265%
  • VA Loan: 7.305%
  • USDA Loan: 7.265%

30-year term


  • Conventional Loan: 7.93%
  • FHA Loan: 7.975%
  • VA Loan: 8.025%
  • USDA Loan: 7.975%

Current Mortgage Rate San Antonio

The current mortgage rates in San Antonio, Texas for different types of loans, as of October 10, 2023:

10-year term


  • Conventional Loan: 6.925%
  • FHA Loan: 7.060%
  • VA Loan: 7.100%
  • USDA Loan: 7.060%

15-year term


  • Conventional Loan: 6.995%
  • FHA Loan: 7.230%
  • VA Loan: 7.270%
  • USDA Loan: 7.230%

30-year term


  • Conventional Loan: 7.875%
  • FHA Loan: 7.925%
  • VA Loan: 7.975%
  • USDA Loan: 7.925%

Arlington County Texas

The current mortgage rates arlington tx for Conventional, FHA, VA, and USDA loans, as of October 10, 2023:


10-year term


  • Conventional Loan: 6.656%
  • FHA Loan: 6.791%
  • VA Loan: 6.831%
  • USDA Loan: 6.791%

15-year term


  • Conventional Loan: 6.794%
  • FHA Loan: 7.009%
  • VA Loan: 7.049%
  • USDA Loan: 7.009%

30-year term


  • Conventional Loan: 7.98%
  • FHA Loan: 8.025%
  • VA Loan: 8.075%
  • USDA Loan: 8.025%

Current Mortgage Rates Irving TX

Current mortgage rates Irving, tx for Conventional, FHA, VA, and USDA loans, as of October 10, 2023, for 10-year, 15-year, and 30-year terms:


10-year term


  • Conventional Loan: 6.656%
  • FHA Loan: 6.791%
  • VA Loan: 6.831%
  • USDA Loan: 6.791%


15-year term


  • Conventional Loan: 6.794%
  • FHA Loan: 7.009%
  • VA Loan: 7.049%
  • USDA Loan: 7.009%

30-year term


  • Conventional Loan: 7.98%
  • FHA Loan: 8.025%
  • VA Loan: 8.075%
  • USDA Loan: 8.025%

Mortgage Rates Katy TX

The current mortgage rates near Katy tx for Conventional, FHA, VA, and USDA loans, as of October 10, 2023, for 10-year, 15-year, and 30-year terms, not in table format:


10-year term


  • Conventional Loan: 6.625%
  • FHA Loan: 6.760%
  • VA Loan: 6.800%
  • USDA Loan: 6.760%

15-year term


  • Conventional Loan: 6.765%
  • FHA Loan: 7.000%
  • VA Loan: 7.040%
  • USDA Loan: 7.000%

30-year term


  • Conventional Loan: 7.925%
  • FHA Loan: 7.970%
  • VA Loan: 8.020%
  • USDA Loan: 7.970%

Mortgage Rates Fort Worth Texas

Current mortgage rates in Fort Worth, Texas for different types of loans, as of October 10, 2023, not in table:


10-year term


  • Conventional Loan: 6.98%
  • FHA Loan: 7.115%
  • VA Loan: 7.155%
  • USDA Loan: 7.115%

15-year term


  • Conventional Loan: 7.05%
  • FHA Loan: 7.285%
  • VA Loan: 7.325%
  • USDA Loan: 7.285%

30-year term


  • Conventional Loan: 7.98%
  • FHA Loan: 8.025%
  • VA Loan: 8.075%
  • USDA Loan: 8.025%

Current Mortgage Rates MCallen, TX

The current mortgage rates in McAllen TX for Conventional, FHA, VA, and USDA loans, as of October 10, 2023, for 10-year, 15-year, and 30-year terms, not in table format:


10-year term


  • Conventional Loan: 6.656%
  • FHA Loan: 6.791%
  • VA Loan: 6.831%
  • USDA Loan: 6.791%

15-year term


  • Conventional Loan: 6.794%
  • FHA Loan: 7.009%
  • VA Loan: 7.049%
  • USDA Loan: 7.009%

30-year term


  • Conventional Loan: 7.98%
  • FHA Loan: 8.025%
  • VA Loan: 8.075%
  • USDA Loan: 8.025%

FAQs For Mortgage Calculator Texas:

How much house can I afford in Texas calculator?

A mortgage affordability calculator can help you estimate how much house you can afford in Texas.

How much is the average mortgage in Texas?

The average mortgage in Texas is \$1,250 per month.

What is the most common mortgage in Texas?

The most common mortgage in Texas is the 30-year fixed-rate mortgage.

What states have high mortgage?

States with high mortgage rates include California, New York, and Hawaii.

Does Texas allow mortgages?

Yes, Texas allows mortgages.

Is Texas a deed or mortgage state?

Texas is a deed state. This means that the buyer of a property receives a deed, which is a legal document that gives them ownership of the property.

Mortgage Calculator Texas