Conventional Loan Calculator — Texas
In Texas, one-unit loans up to $832,750 are conforming. With 10% down on the typical $299,000 home, the $269,100 loan carries estimated PMI of 0.72% ($161/mo), which drops off after about 9 years once the balance reaches 80% of the price.
Texas has the 3rd-highest effective property tax rate of the 50 states at 1.60% — $2,063 more a year than the 0.91% state average on a $299,000 home. Homeowners insurance averages $4,085 a year, the 7th-highest premium nationally and $1,365 more than the typical state.
Loan Parameters
Total Monthly Payment
$2,696
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$377,375
Total Cost
$928,694
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $21,549 | $2,718 | $18,831 | $1,938 | $266,382 | $32,618 |
| Year 2 | $21,549 | $2,915 | $18,634 | $1,938 | $263,467 | $35,533 |
| Year 3 | $21,549 | $3,127 | $18,422 | $1,938 | $260,341 | $38,660 |
| Year 4 | $21,549 | $3,354 | $18,195 | $1,938 | $256,987 | $42,013 |
| Year 5 | $21,549 | $3,597 | $17,952 | $1,938 | $253,389 | $45,611 |
| Year 6 | $21,549 | $3,858 | $17,691 | $1,938 | $249,531 | $49,469 |
| Year 7 | $21,549 | $4,139 | $17,410 | $1,938 | $245,392 | $53,608 |
| Year 8 | $21,549 | $4,439 | $17,110 | $1,938 | $240,953 | $58,047 |
| Year 9 | $21,549 | $4,761 | $16,788 | $646 | $236,192 | $62,808 |
| Year 10 | $21,549 | $5,107 | $16,442 | — | $231,085 | $67,915 |
| Year 11 | $21,549 | $5,478 | $16,071 | — | $225,607 | $73,393 |
| Year 12 | $21,549 | $5,876 | $15,673 | — | $219,731 | $79,269 |
| Year 13 | $21,549 | $6,302 | $15,247 | — | $213,428 | $85,572 |
| Year 14 | $21,549 | $6,760 | $14,789 | — | $206,668 | $92,332 |
| Year 15 | $21,549 | $7,251 | $14,298 | — | $199,417 | $99,583 |
| Year 16 | $21,549 | $7,777 | $13,772 | — | $191,640 | $107,360 |
| Year 17 | $21,549 | $8,342 | $13,207 | — | $183,298 | $115,702 |
| Year 18 | $21,549 | $8,948 | $12,601 | — | $174,350 | $124,650 |
| Year 19 | $21,549 | $9,598 | $11,951 | — | $164,753 | $134,247 |
| Year 20 | $21,549 | $10,294 | $11,255 | — | $154,458 | $144,542 |
| Year 21 | $21,549 | $11,042 | $10,507 | — | $143,416 | $155,584 |
| Year 22 | $21,549 | $11,844 | $9,705 | — | $131,573 | $167,427 |
| Year 23 | $21,549 | $12,704 | $8,845 | — | $118,869 | $180,131 |
| Year 24 | $21,549 | $13,626 | $7,923 | — | $105,243 | $193,757 |
| Year 25 | $21,549 | $14,615 | $6,934 | — | $90,628 | $208,372 |
| Year 26 | $21,549 | $15,677 | $5,872 | — | $74,951 | $224,049 |
| Year 27 | $21,549 | $16,815 | $4,734 | — | $58,136 | $240,864 |
| Year 28 | $21,549 | $18,036 | $3,513 | — | $40,101 | $258,899 |
| Year 29 | $21,549 | $19,345 | $2,204 | — | $20,755 | $278,245 |
| Year 30 | $21,554 | $20,755 | $799 | — | $0 | $299,000 |
Conventional Loan numbers for Texas
- Typical Texas home value
- $299,000
- 10% down ($29,900) · Zillow, August 31, 2026
- Loan amount
- $269,100
- conforming in all 254 Texas counties
- Estimated monthly payment
- $2,696
- APR 7.488%
- Texas property tax
- 1.60%
- $399/mo
- Homeowners insurance
- $4,085/yr
- $340/mo
- Texas conforming limit
- $832,750
- Above this, the loan is jumbo
- PMI
- 0.72% · $161/mo
- Drops off after 9 years
How much house can you afford in Texas with a conventional loan?
Highest price where principal, interest, Texas property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $104,000 | $10,400 | 35% |
| $75,000 | $1,750 | $178,000 | $17,800 | 59% |
| $100,000 | $2,333 | $252,000 | $25,200 | 84% |
| $125,000 | $2,917 | $326,000 | $32,600 | 109% |
| $150,000 | $3,500 | $401,000 | $40,100 | 134% |
| $200,000 | $4,667 | $549,000 | $54,900 | 183% |
| $250,000 | $5,833 | $697,000 | $69,700 | 233% |
Conventional vs other loan types in Texas
$299,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $29,900 | $269,100 | — | $161 PMI | $2,696 | 7.488% |
| FHA | 3.5% · $10,465 | $293,584 | UFMIP $5,049 | $134 MIP | $2,832 | 7.761% |
| VA | 0% · $0 | $305,429 | Funding fee $6,429 | $0 | $2,777 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $59,800 | $239,200 | — | $0 | $2,335 | 7.030% |
Frequently asked questions
What is the monthly payment on a $299,000 home with a conventional loan in Texas?
Estimated $2,696 per month ($1,796 principal & interest, $399 property tax, $340 insurance, $161 PMI) at 7.03% for 30 years, with 10% down. APR 7.488%.
How much is PMI on a Texas conventional loan?
At 90% loan-to-value, PMI is estimated at 0.72% a year ($161/mo). It can be removed once the balance reaches 80% of the home's original value.
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.