Houston, TX Mortgage Calculator
Calculate your estimated mortgage payment for a home in Houston, TX. Pre-filled with Houston's average home price of $310,000, local property tax rate of 1.9%, and typical insurance costs.
$310,000
Avg. Home Price
1.9%
Property Tax Rate
$3,500
Avg. Annual Insurance
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? 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)
Houston, TX Mortgage Overview
The average home in Houston costs around $310,000. With a 20% down payment of $62,000, you would need a loan of $248,000.
Houston homeowners pay a property tax rate of approximately 1.9%, which translates to about $5,890 per year on the average home. Annual homeowners insurance in Houston averages around $3,500.
What Affects Your Houston Mortgage Payment?
Your monthly PITI payment in Houston includes four components:
- Principal — the portion that reduces your loan balance
- Interest — the cost of borrowing, based on your rate and remaining balance
- Taxes — Houston’s property taxes average 1.9%, higher than the Texas state average of 1.8%
- Insurance — homeowners insurance in Houston averages $3,500/year
Tips for Houston Home Buyers
- Compare rates from multiple Houston 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 Houston first-time buyer programs — many Texas cities offer down payment assistance or reduced rates for first-time buyers
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