David Chen is a Certified Financial Analyst with over 10 years of experience in Texas residential lending and USDA/VA product analytics.
Use this free Texas home-loan mortgage calculator to estimate monthly principal & interest, total interest, and payoff date for conventional, VA, USDA, and Texas-specific programs.
Texas Home Loan Mortgage Calculator
Texas Home Loan Formula
Monthly P&I: M = P × [ r(1+r)^n ] / [ (1+r)^n – 1 ]
Texas Note: No state income tax; property-tax rates vary by county.
Variables
- P: Loan amount after down payment.
- r: Monthly interest rate (annual rate ÷ 12).
- n: Total monthly payments (years × 12).
Related Calculators
- Texas VA Mortgage Calculator
- USDA Rural Texas Calculator
- Texas Property Tax Calculator
- Texas Cash-Out Refinance Calculator
What Is the Texas Home Loan Mortgage Calculator?
It estimates P&I payments for Texas-specific programs: conventional, VA (no down-payment), USDA (rural zero-down), and Texas-specific grants. Property-tax and insurance fields are omitted so you can layer on exact county figures later.
How to Calculate Texas Home Loan (Example)
- Enter the purchase price (e.g., $400,000).
- Select down-payment—0% for VA/USDA, 3–5% for conventional Texas grants.
- Pick the term (30-year fixed is most common).
- Input the rate you see from a Texas lender, then click “Calculate”.
Frequently Asked Questions (FAQ)
Does this include Texas property tax? No—rates vary by county; add your specific figure for PITI.
Can I use this for a Texas cash-out refi? Yes—enter the new loan amount after cash-out.
Are VA funding fees included? No—add 2.15% (first-use) to loan amount if required.
Is mortgage insurance needed? Conventional loans >80% LTV require PMI; VA/USDA do not.