Houston Mortgage Calculator

Houston mortgage calculator: the payment, plus the parts people forget

Houston is one of the more affordable big metros in the country to buy in, but a Houston payment has two lines that surprise people from other states: property tax and insurance. Texas has no state income tax and leans on property tax instead, and much of Houston carries real flood and wind exposure. This page gives you current Houston numbers, walks through a worked example, and shows how homestead rules, flood insurance, and loan type change what you actually pay each month. Summit Lending LLC (NMLS 2394434) is a mortgage broker licensed in Texas. We compare loans from multiple wholesale lenders, so you can turn an estimate into a real quote.

Want a firm number? Start a Houston preapproval, or read about Houston 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].

Houston numbers to start with

Redfin put Houston's median sale price at about $349,769 for August 2026, down 2.8% from a year earlier. About 5,347 homes sold that month, and the typical home took around 45 days to go under contract and sold for about 96.9% of list price (Redfin Houston data). Below-list sales and a month and a half on market give buyers room to negotiate, especially on homes that have sat. The statewide Texas median was about $333,611 (Redfin Texas data), so Houston sits a little above the state as a whole.

Rates set the base of every estimate. Freddie Mac's weekly survey put the average 30-year fixed rate at 7.28% for the week of October 1, 2026, up from 7.03% a week earlier and 6.34% a year ago. The 15-year average was 6.60% (Freddie Mac PMMS; history on FRED). Those are national averages for borrowers with strong credit and roughly 20% down, not Houston 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.

The full Houston payment

The calculator handles principal and interest. Add these to get a real monthly number:

• Property tax. Often the second-largest line. Your bill combines the county, city, school district, and often a MUD (municipal utility district) or other special district, so two homes at the same price can have very different bills.
• Homeowners insurance. Windstorm and hail exposure push Houston premiums higher than in many inland markets. Get a quote on the actual address before you write an offer.
• Flood insurance. Standard homeowners policies do not cover flood. It may be required, and it is worth pricing even when it is not.
• Mortgage insurance. PMI on a conventional loan with less than 20% down, or FHA's annual premium.
• HOA dues. Common in master-planned communities in Katy, Sugar Land, Pearland, and Spring.

Property tax and the homestead exemption

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 Harris Central Appraisal District site (or Fort Bend or Montgomery for those counties) and check the taxing units and current exemptions. 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.

Worked example: a $350,000 Houston home

Take a $350,000 home, close to the city median, with 10% down. The loan is $315,000. At 7.28%, principal and interest on a 30-year fixed is about $2,155 a month. At last year's 6.34%, the same loan would have been about $1,958, roughly $197 less each month.

A 15-year fixed at 6.60% raises principal and interest to about $2,761, but cuts total interest to about $182,040, compared with about $460,897 over 30 years at 7.28%. Then add tax, insurance (including flood if needed), PMI, and any HOA or MUD costs. In Houston, those extras can add a large share on top of principal and interest, so do not skip them.

Flood risk and flood insurance

Redfin's climate data puts about 46% of Houston properties at severe flood risk and rates wind risk as extreme (Redfin Houston data). If the home is in a high-risk flood area and you use a government-backed mortgage, flood insurance is required (FEMA). FEMA also notes that a National Flood Insurance Program policy typically has a 30-day waiting period, with exceptions such as coverage required by a lender for a new loan. In practice, order the flood zone determination early, ask the seller about past flood claims, and get a flood quote before your option period ends so the premium is in your estimate.

How the loan type changes your Texas 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 $350,000 Texas home changes by program, using the 7.28% 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 $10,500 on $350,000 (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 $350,000 with 3.5% down, the base loan is $337,750, the upfront premium adds $5,911, and principal and interest on $343,661 is about $2,351 at 7.28%. The monthly premium adds roughly $155, for about $2,506 before taxes and insurance. The 2026 FHA limit for a one-unit home is $541,287 in Harris, Fort Bend, and Montgomery counties, so this price fits.

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 $350,000 brings the loan to about $357,525, with principal and interest near $2,446 at 7.28%.

USDA

USDA guaranteed loans allow no down payment in eligible rural areas for households under the income limits (USDA guaranteed loans). A few outer parts of the region can qualify, but most of Houston itself does not. Check an address on the USDA eligibility map before you count on it.

2026 loan limits in the Houston area

The 2026 conforming loan limit is $832,750 for a one-unit home across the Houston metro (FHFA announcement, FHFA county file). The FHA one-unit limit for Harris County, Fort Bend County, and Montgomery County is $541,287 (HUD announcement, HUD lookup). Above $832,750, you are in jumbo territory, which comes up in parts of Bellaire, West University, and River Oaks.

Down payment help for Houston buyers

The City of Houston's Homebuyer Assistance Program offers up to $75,000 under its guidelines, but the city's page currently says it is not accepting new applications because funds are exhausted (City of Houston HAP). Check that page for reopening news before you plan around it. Statewide options are still available: 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. Our Houston first-time home buyer guide goes deeper.

Texas closing costs to expect

Title insurance rates in Texas are set by the Texas Department of Insurance, so the base premium for a given price is the same no matter which title company you use (TDI). Your Loan Estimate lists lender fees, title, prepaid interest, and the escrow deposit for taxes and insurance (CFPB). Compare Loan Estimates from more than one lender on the same day to see real differences.

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

Run the numbers for the specific area you are shopping. West and southwest: Katy, Sugar Land, Missouri City, Rosenberg, and Fort Bend County. North: Spring, Tomball, Humble, Conroe, and Montgomery County. South and east: Pearland, Friendswood, League City, Baytown, Brazoria County, and Galveston County. Inside the loop area: Bellaire, and Harris County.

Related Houston and Texas pages

See Houston refinancing, Houston construction loans, Houston reverse mortgages, the Texas mortgage overview, and the statewide Texas mortgage calculator. Shopping elsewhere in Texas? Try Dallas or Austin.

Sources

• Redfin, Houston housing market
• Redfin, Texas housing market
• Freddie Mac PMMS, Oct 1, 2026 release
• 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)
• Harris Central Appraisal District
• FEMA, flood insurance
• 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
• City of Houston, Homebuyer Assistance Program
• TDHCA homebuyer program chart (PDF)
• TSAHC, loans and down payment assistance
• Texas Department of Insurance, title insurance
• CFPB, What is a Loan Estimate?
• CFPB, prequalification vs. preapproval
• CFPB, when a lender checks your credit
• 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.