Mortgage Math, Made Easy
Texas Mortgage Calculators
Estimate your monthly payment, see what you can afford, evaluate refinance savings, and view your amortization schedule. For estimation only — I'll run the real numbers for you.
Estimate your monthly payment, see what you can afford, evaluate refinance savings, and view your amortization schedule. For estimation only — I'll run the real numbers for you.
How much home can you reasonably afford?
See how your loan pays down year-by-year.
| Year | Principal | Interest | Remaining |
|---|
I'm Bond Peter Njoku (NMLS #2670329), and I built these calculators because most national mortgage calculators quietly understate what a Texas payment actually looks like. They default to national averages for property tax and insurance — and Texas is not average on either. A calculator that tells you your payment is $2,100 when it's really $2,700 doesn't help you shop.
Texas has no state income tax, and the trade-off is some of the highest property tax rates in the country. Depending on your county and city, effective rates commonly land between roughly 1.8% and 2.5% of assessed value per year. On a $350,000 home that's frequently $500-$700 per month in taxes alone, folded into your escrow. Homeowners insurance also runs above the national average here, driven by hail and severe storm exposure across DFW.
The practical effect: principal and interest is often only about two-thirds of your real monthly payment. When you use the calculators above, treat the P&I figure as a floor, not the answer.
| Principal | Pays down your loan balance — builds equity |
|---|---|
| Interest | The lender's charge, set by your rate and credit profile |
| Taxes | Texas property taxes, escrowed monthly — the big local variable |
| Insurance | Homeowners, plus PMI/MIP if under 20% down, plus flood where required |
A calculator can't see your credit score, so it can't price your rate or your PMI — and on a conventional loan, PMI is priced by credit score, which can swing your payment meaningfully. It also can't tell you whether you qualify for down payment assistance. Programs like TSAHC and TDHCA can cover 3-5% of your loan, and Dallas DHAP goes up to $60,000 forgivable, none of which shows up in a payment estimate. Those programs change your cash-to-close far more than a quarter-point rate difference will.
When you want the real number instead of an estimate, call or text me at 469-545-7180. I'll pull your actual rate, check your down payment assistance eligibility, and compare FHA against conventional side by side so you can see the true monthly difference.