El Paso County Mortgage Calculator

El Paso County mortgage calculator: plan the whole payment

El Paso County covers the city of El Paso plus Socorro, Horizon City, Canutillo, Clint, San Elizario, Fabens, Anthony, and Vinton. Prices are among the lowest of any large Texas county, and military buyers from Fort Bliss make VA loans a big part of the market. This page gives you current El Paso County numbers, a worked example near the local median, and the Texas tax and loan rules that belong in any honest estimate. Summit Lending LLC (NMLS 2394434) is a mortgage broker based in Garland, Utah. We compare loans from multiple wholesale lenders and can turn your calculator result into a real quote for a home in El Paso County.

Ready to shop? Start a El Paso County preapproval, or read about El Paso County purchase loans.

Summit Lending LLC, NMLS 2394434, is based at 4542 W 14800 N, Garland, UT 84312 and serves borrowers in Utah, Texas, Idaho, Wyoming, Arkansas, and Arizona. Call 385-200-1470 or email [email protected].

El Paso County numbers to start with

Redfin put the El Paso County median sale price at about $280,000 for the three months ending September 2026, up 5.2% from the same period a year earlier. About 762 homes sold in September, compared with 771 a year earlier, and homes took a median of about 51 days to sell, versus 49 days last year, with an average sale-to-list ratio near 98.8% (Redfin El Paso County data). Prices are up from a year ago, homes take a little longer to sell than last year, and the average home sells close to list price.

For city numbers, see the El Paso mortgage calculator. Communities like Canutillo, Clint, San Elizario, and Fabens can have very different tax rates and loan options, including USDA in some rural areas.

Rates set the base of every estimate. Freddie Mac's weekly survey put the average 30-year fixed rate at 7.40% for the week of October 8, 2026, up from 7.28% a week earlier and 6.30% a year ago. It was the seventh weekly increase in a row and the highest reading since November 2023. The 15-year average was 6.73% (AP report on the Oct 8 survey; weekly history in the PMMS archive and on FRED). Those are national averages for borrowers with strong credit and roughly 20% down, not El Paso County quotes. Freddie Mac publishes a new reading every Thursday (PMMS page), so if you are running numbers a few weeks from now, update the rate first.

What goes into an El Paso County payment

• Principal and interest. The calculator's core result, set by price, down payment, rate, and term.
• Property tax. Often the largest cost after principal and interest. The combined rate depends on the county, city, school district, and any special districts for the address. Rates differ a lot between the city, Socorro, Horizon City, and the unincorporated parts of the county.
• Homeowners insurance. Premiums vary with roof age, construction, and location. Summer storms can cause flash flooding near arroyos, so check flood zone status before you commit.
• Mortgage insurance. PMI on conventional loans with less than 20% down, or FHA's annual premium.
• HOA dues. Common in newer subdivisions, especially on the east side and in Horizon City, and rare in older or rural areas.

Texas property tax and the homestead exemption

Property tax is usually the biggest line after principal and interest in Texas, because the state has no income tax and local governments lean on property tax instead. Texas voters approved Proposition 13 in November 2025, raising the school district homestead exemption to $140,000 (Ballotpedia; Texas Comptroller). That exemption only reduces the school portion of the bill. Counties, cities, and other districts set their own exemptions, if any. Once a home is your homestead, Texas also limits how much its appraised value can rise for tax purposes to 10% a year, not counting new improvements (Texas Tax Code Section 23.23).

For the estimate, look up the address on the El Paso Central Appraisal District site and check the taxing units and current exemptions. Outside the city, the bill can include a different school district, such as Socorro, Clint, Canutillo, Fabens, or San Elizario ISD, plus emergency services or water districts. If the seller had a homestead exemption or an over-65 freeze, your first bill could be higher than theirs. You file your own homestead application after you move in, and it is worth doing in your first year.

Worked example: a $280,000 home in El Paso County

Take a $280,000 home near the El Paso County median with 10% down. The loan is $252,000. At 7.40%, principal and interest on a 30-year fixed is about $1,745 a month. At last year's 6.30%, the same loan would have been about $1,560, so the rate change alone adds about $185 a month.

A 15-year fixed at 6.73% raises the payment to about $2,227, while total interest drops to about $148,892, compared with about $376,127 over 30 years at 7.40%. Add tax, insurance, PMI, and HOA dues for the full number. If it is more than you want to carry, compare a lower price point, a larger down payment, a temporary or permanent rate buydown paid by the seller, or Texas state down payment assistance.

How the loan type changes your El Paso County result

Most online calculators assume a conventional loan with a fixed rate, which can make the number look better or worse than what you would actually get. Here is how the same $280,000 El Paso County home changes by program, using the 7.40% survey average as a stand-in rate. Your actual rate will differ by program and profile.

Conventional

Qualified buyers can put as little as 3% down on a one-unit primary home, which is $8,400 on $280,000 (Fannie Mae eligibility matrix). Below 20% down you pay private mortgage insurance, and you can ask to cancel it once the balance reaches 80% of the original value (CFPB on PMI). PMI is priced by credit score and down payment, so add it as a separate line in the calculator rather than guessing.

FHA

FHA requires 3.5% down with a 580 or higher score (HUD FHA overview). It also adds two insurance costs a basic calculator often skips: an upfront premium of 1.75% that is usually financed into the loan, and an annual premium paid monthly. For a base loan of $726,200 or less with more than 95% loan-to-value, the annual rate is 0.55% (HUD Mortgagee Letter 2023-05). On $280,000 with 3.5% down, the base loan is $270,200, the upfront premium adds $4,728, and principal and interest on $274,928 is about $1,904 at 7.40%. The monthly premium adds roughly $124, for about $2,027 before taxes and insurance. The 2026 FHA one-unit limit in El Paso County is $541,287, the national floor, so this price fits with plenty of room.

VA

Eligible veterans and service members can buy with no down payment and no monthly mortgage insurance (VA purchase loans). A one-time funding fee applies unless you are exempt, and for first use with less than 5% down it is 2.15% of the loan (VA funding fee). Financing that fee on $280,000 brings the loan to about $286,020, with principal and interest near $1,980 at 7.40%.

USDA

USDA guaranteed loans allow no down payment in eligible rural areas for households under the income limits (USDA guaranteed loans). Some rural areas in the eastern part of the county, outside the city, can be eligible. Check an address on the USDA eligibility map before you count on it.

2026 loan limits in El Paso County

The 2026 conforming loan limit for a one-unit home in El Paso County is $832,750 (FHFA announcement, FHFA county file). The FHA one-unit limit is $541,287, the 2026 national floor for the El Paso metro (HUD announcement, HUD lookup). With prices this far below the limit, FHA, VA, and conventional all fit most of the market.

Down payment help in Texas

Statewide programs are available to El Paso County buyers. TDHCA's My First Texas Home and My Choice Texas Home offer up to 5% assistance (TDHCA program chart), and TSAHC offers up to 5% through Homes for Texas Heroes and Home Sweet Texas (TSAHC programs). Income and price limits apply, and some assistance is a second loan that has to be repaid. Add any second-loan payment to your estimate. Our El Paso County first-time home buyer guide goes deeper.

From a calculator estimate to a real number

1. Run a few scenarios here. Try two prices, two down payments, and both a 30-year and 15-year term so you know your range.
2. Get preapproved. A preapproval means a lender checked your credit, income, and assets. The CFPB points out that lenders use the terms prequalification and preapproval differently, so ask what was verified (CFPB comparison). Several mortgage credit checks within 45 days count as one inquiry for most scoring models, so shopping does not hurt your score more than once (CFPB on credit checks).
3. Compare Loan Estimates. Lenders must send a Loan Estimate within three business days of your application, and the standard format makes side-by-side comparison easy (CFPB on Loan Estimates).
4. Watch your debt-to-income ratio. Lenders compare your monthly debts, including the new payment, to gross monthly income (CFPB on DTI). A payment that fits your budget can still be too high for a program limit, or the reverse.
5. Check the final numbers. Your Closing Disclosure arrives at least three business days before closing. Compare it to your Loan Estimate line by line (CFPB on Closing Disclosures).

Calculators for nearby areas

Cities in and near the county: El Paso, Canutillo, Clint, San Elizario, and Fabens. Elsewhere in Texas: Hudspeth County, Lubbock, Austin, and Dallas County. Or use the statewide Texas mortgage calculator.

Related pages

See the El Paso County mortgage overview, El Paso County refinancing, El Paso County construction loans, El Paso County reverse mortgages, and El Paso County commercial loans. Statewide, compare Texas mortgage loans, Texas purchase loans, Texas refinancing, Texas preapproval, Texas mortgage calculator.

Sources

• Redfin, El Paso County, TX housing market
• Redfin, Texas housing market
• AP via WTOP, Freddie Mac rates for Oct 8, 2026
• Freddie Mac PMMS archive
• Freddie Mac Primary Mortgage Market Survey
• FRED, 30-Year Fixed Rate Mortgage Average
• Ballotpedia, Texas Proposition 13 (2025)
• Texas Comptroller, property tax exemptions
• Texas Tax Code Chapter 23, appraisal methods (Section 23.23)
• El Paso Central Appraisal District
• Fannie Mae Eligibility Matrix
• CFPB, private mortgage insurance
• HUD, Let FHA loans help you
• HUD Mortgagee Letter 2023-05, FHA annual MIP (PDF)
• VA purchase loan
• VA funding fee and closing costs
• USDA Single Family Housing Guaranteed Loan Program
• USDA property eligibility map
• FHFA, 2026 conforming loan limits
• FHFA 2026 county loan limit list
• HUD No. 25-145, 2026 FHA loan limits
• HUD FHA mortgage limits lookup
• TDHCA homebuyer program chart (PDF)
• TSAHC, loans and down payment assistance
• CFPB, prequalification vs. preapproval
• CFPB, when a lender checks your credit
• CFPB, What is a Loan Estimate?
• CFPB, debt-to-income ratio
• CFPB, What is a Closing Disclosure?

Information on this page is for general education and is current as of October 2026. It is not a commitment to lend or a rate quote. Program rules, limits, and availability change, and approval depends on your credit, income, assets, property, and lender guidelines. Summit Lending LLC, NMLS 2394434. Equal Housing Opportunity.