Down Payment Calculator for Texas

Down Payment Planning in Texas

With a median home value of $310,000 in Texas, here's what different down payment tiers look like:

• 3% (First-time buyer programs): $9,300
• 3.5% (FHA minimum): $10,900
• 10% (Avoid PMI with some lenders): $31,000
• 20% (Eliminate PMI entirely): $62,000

Conforming Loan Limits in Texas

The conforming loan limit in Texas is $726,200. Most Texas counties are at the standard conforming limit. No Texas counties currently qualify for high-cost conforming limits, though Austin-Round Rock values approach the threshold. If your loan exceeds this, you'll need jumbo financing, which typically requires a 20%+ down payment.

Closing Costs to Plan For

Beyond your down payment, budget for closing costs of around $3,700 in Texas. Texas has no state transfer tax, which is a significant advantage. However, title insurance rates in Texas are state-regulated and can be higher than in unregulated states. Survey fees are standard requirements in Texas.

Property Tax Impact

Texas's effective property tax rate is 1.60% (average annual bill: $4,660). A larger down payment reduces your monthly mortgage but property taxes remain constant regardless of how much you put down.

Down Payment Calculator for Other States