Estimate your monthly payment including taxes, insurance & MIP
Estimating a mortgage in Texas requires more than just knowing your interest rate. Between the state's unique property tax rates and the specific requirements of the Federal Housing Administration (FHA), standard calculators often leave buyers underprepared for their true monthly costs. This Texas FHA Loan Calculator is built to give you a highly accurate estimate by automatically factoring in those localized costs.
Unlike many states, Texas does not have a state income tax; instead, it relies heavily on property taxes. The statewide average property tax rate hovers around 1.80% of a home's assessed value. If you are calculating a standard mortgage without accounting for this, your estimated monthly payment will be drastically lower than reality. Our calculator builds this 1.80% average directly into the pie chart breakdown so there are no surprises at closing.
FHA loans are incredibly popular because they allow for down payments as low as 3.5%, but there is a cap on how much you can borrow. For 2026, the baseline FHA loan limit for a single-family home across most Texas counties is $541,287. For example, if you are looking at properties right around the Houston area, the Harris County limit currently sits exactly at that $541,287 threshold. Keeping your home search within these limits ensures you remain eligible for the lower down payment requirement.
Every FHA loan requires a Mortgage Insurance Premium (MIP). This is an insurance policy that protects the lender in case you default on the loan. Currently, the annual MIP rate is approximately 0.55% of your total loan amount, divided by 12 and added to your monthly payment. This calculator automatically computes that exact fraction and adds it to your Principal, Interest, Taxes, and Insurance (PITI) to give you the most accurate total possible.