Houston Mortgage Payment Calculator
Estimate your monthly mortgage payment using your purchase price, down payment, interest rate, loan program, property taxes, insurance, mortgage insurance, and HOA dues.
Designed for buyers throughout the Greater Houston area, including conventional, FHA, FHA 203(k), and VA financing scenarios.
Calculator Inputs
Basic Information
360 monthly payments
Monthly Housing Costs
Houston-area rates vary by county, city, school district, MUD, and exemptions. Replace with a property-specific estimate.
Mortgage Insurance
Estimated Monthly Payment
Enter your purchase price and loan details, then click Calculate to see your estimated monthly payment.
What is included in a mortgage payment?
A monthly mortgage payment typically includes principal, interest, property taxes, homeowners insurance, mortgage insurance (if applicable), and HOA dues. Principal reduces your loan balance, while interest is the cost of borrowing. Property taxes and insurance are often escrowed by the lender. This calculator helps you estimate each component for a Greater Houston home purchase.
How Houston-area property taxes affect payments
Texas has no state income tax, but property taxes are among the highest in the nation. Houston-area rates vary by county, city, school district, MUD, PID, and exemptions. There is no single Houston property-tax rate. Use the calculator's tax-rate or exact-dollar option with a property-specific estimate from the applicable appraisal district.
VA loan payment considerations
VA loans allow 0% down and do not require monthly mortgage insurance. However, most VA borrowers pay a one-time funding fee that can be financed or paid at closing. The fee depends on down payment, prior VA loan usage, and exemption status. Disabled veterans may be exempt. Confirm eligibility and the final fee with a VA-approved lender.
FHA and FHA 203(k) mortgage insurance
FHA loans require both an upfront mortgage insurance premium (UFMIP) and an annual MIP paid monthly. The UFMIP is 1.75% of the base loan amount and can be financed. The annual MIP rate depends on loan term, LTV, and loan amount. FHA 203(k) loans add renovation funds to the base mortgage before calculating the upfront MIP. The lender determines the final permitted renovation amount and total loan.
Why the lender's Loan Estimate controls
This calculator provides an educational estimate only. The lender's official Loan Estimate (LE) and Closing Disclosure (CD) control the actual rate, payment, closing costs, and cash to close. Always compare this estimate against the lender's LE before making a decision.
Frequently Asked Questions
Does this calculator include closing costs?
No. This calculator estimates your monthly housing payment only. Closing costs, prepaid expenses, and lender fees are separate one-time costs paid at closing.
Can I use this calculator for a VA loan?
Yes. Select "VA" as the loan type. Enter your VA loan usage status and choose whether to finance or pay the funding fee at closing. Disabled veterans can select "Exempt" to remove the funding fee.
Why is my monthly payment showing as a subtotal?
If property tax, insurance, or required mortgage insurance is missing, the calculator shows a subtotal instead of the full payment. Enter all applicable costs for a complete estimate.
Is this the same as a lender's Loan Estimate?
No. This is an educational planning tool. A licensed mortgage lender must provide an official Loan Estimate with verified rates, fees, and terms.
Does the calculator account for the Texas disabled-veteran property-tax exemption?
Yes. Select "100% disabled veteran homestead exemption" under the property tax method to set estimated property tax to zero. You must confirm eligibility with the county appraisal district.
This calculator provides an educational estimate only. It is not a Loan Estimate, mortgage quote, credit decision, approval, offer to lend, or commitment to provide financing. Actual interest rates, payments, taxes, insurance, mortgage insurance, HOA dues, funding fees, closing costs, eligibility, and loan terms will vary. Consult a licensed mortgage lender for a formal Loan Estimate. Richard W. Garcia Jr. and Garcia Vet Homes provide real estate brokerage services and do not make mortgage underwriting decisions.
Richard W. Garcia Jr., REALTOR® | Texas Real Estate Sales Agent License #841381 | LPT Realty, LLC, License #9012763 | Equal Housing Opportunity