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Most calculators give you a number and stop. This one shows you the whole monthly payment behind it, including the Texas property tax line that surprises people who move here, and it lets you change every assumption instead of hiding them.
You could buy up to See the breakdown ↓
Everyone on the loan, before taxes. If two people are buying together, add both salaries. Bonuses and commission count only if you can document two years of them.
Car loans, student loans, minimum credit card payments. Not rent, not utilities.
What you can put down, after leaving yourself closing costs and a reserve.
This one is yours to set, not mine to publish. Rates move daily and I am a REALTOR®, not a lender, so I do not quote them. If you do not have a number yet, leave this one to see how the payment behaves, then replace it the day you get a real quote.
How many years the loan is spread over. Thirty is standard. Fifteen means a much higher payment but far less interest over the life of the loan.
Your yearly property tax as a percentage of the value. In Central Texas it usually lands between 1.8 and 2.5 percent, and it depends on your exact address, not your city. Your county appraisal district has the real number.
Homeowners insurance for the year, as a percentage of the value. An insurance agent gives you the real quote, and it moves a lot with the roof age and the claims history of the house.
Private mortgage insurance. Lenders charge it when you put down less than twenty percent. It protects the lender, not you, and it comes off once you have enough equity.
The share of your monthly income a lender will let the whole payment take up, counting your other debts. Many conventional loans sit around thirty-six percent and some stretch to forty-three.
Every figure here is a starting estimate, not a quote. Your property tax rate depends on your exact address, not your city. Replace them with your own numbers before you rely on the result.
Estimated maximum purchase price
$0
I am not paid by any lender. If I introduce you to one, it is because I think they will do a good job, and nothing changes hands. This is an estimate, not a loan approval, a pre-qualification, or financial advice. Evelyn Vallin is a licensed Texas real estate sales agent, not a mortgage lender, a CPA, or a financial advisor. No rate is published on this page: the one used above is the one you typed in. Only a licensed lender can quote you a rate and tell you what you qualify for, and your actual property tax rate comes from your county appraisal district.
Your monthly payment See the breakdown ↓
The asking price, or the number you are thinking of offering. Change it and watch what happens to the monthly payment.
What you pay up front, in cash. Below twenty percent the lender adds mortgage insurance.
Change either one and the other follows.
Yours to set, not mine to publish. I am a REALTOR®, not a lender, so no rate is quoted on this page.
What the homeowners association charges per month, if there is one. It is not part of your loan, but you pay it every month just the same, and a lender counts it against you.
How many years the loan is spread over. Thirty is standard. Fifteen means a much higher payment but far less interest over the life of the loan.
Your yearly property tax as a percentage of the value. In Central Texas it usually lands between 1.8 and 2.5 percent, and it depends on your exact address, not your city. Your county appraisal district has the real number.
Homeowners insurance for the year, as a percentage of the value. An insurance agent gives you the real quote, and it moves a lot with the roof age and the claims history of the house.
Private mortgage insurance. Lenders charge it when you put down less than twenty percent. It protects the lender, not you, and it comes off once you have enough equity.
Title, lender and escrow fees you pay at closing, as a percentage of the price. This is on top of your down payment, and it is the cost people forget to save for.
Estimated monthly payment
$0
Cash needed at closing $0 Down payment plus estimated closing costs. Ask me for a real figure once we have a contract.
Is this payment realistic for me?An estimate, not a loan approval or a quote. Evelyn Vallin is a licensed Texas real estate sales agent, not a mortgage lender. No rate is published on this page: the one used above is the one you typed in.
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