Austin, TX Mortgage Calculator
Calculate your estimated mortgage payment for a home in Austin, TX. Pre-filled with Austin's average home price of $450,000, local property tax rate of 1.68%, and typical insurance costs.
$450,000
Avg. Home Price
1.68%
Property Tax Rate
$3,000
Avg. Annual Insurance
-
? Monthly payment PITI with taxes & insurance included
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? Bi-weekly payment PITI if paid every other week
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? The date of the last payment
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? The date of the last bi-weekly payment
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? Total interest paid
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? Total interest paid if bi-weekly payments made
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? Monthly property tax paid (included in above PITI payment)
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? Monthly Home Insurance paid (included in above PITI payment)
Austin, TX Mortgage Overview
The average home in Austin costs around $450,000. With a 20% down payment of $90,000, you would need a loan of $360,000.
Austin homeowners pay a property tax rate of approximately 1.68%, which translates to about $7,560 per year on the average home. Annual homeowners insurance in Austin averages around $3,000.
What Affects Your Austin Mortgage Payment?
Your monthly PITI payment in Austin includes four components:
- Principal — the portion that reduces your loan balance
- Interest — the cost of borrowing, based on your rate and remaining balance
- Taxes — Austin’s property taxes average 1.68%, lower than the Texas state average of 1.8%
- Insurance — homeowners insurance in Austin averages $3,000/year
Tips for Austin Home Buyers
- Compare rates from multiple Austin lenders — even a 0.25% rate difference can save tens of thousands over the life of your loan
- Check your credit score before applying — a higher score means better rates
- Consider bi-weekly payments — paying every two weeks instead of monthly can shave years off your mortgage
- Factor in PMI — if your down payment is less than 20%, you’ll pay Private Mortgage Insurance until you reach 80% loan-to-value
- Look at Austin first-time buyer programs — many Texas cities offer down payment assistance or reduced rates for first-time buyers
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