Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Texas homebuyers.
Pre-filled with Texas medians. Adjust for your property.
Estimated closing costs based on Texas tax rates and fees.
The median home price in Texas is $310,000, with property taxes averaging 1.8% annually. Texas's property tax rate is well above the national average of ~1.1%, adding significant cost to monthly payments — budget carefully.
Closing costs in Texas average $5K (1.7%% of purchase price). Texas does not charge a transfer tax, which helps keep closing costs lower. Homeowners insurance runs approximately $3,800 per year. Insurance costs are notably high — factor this into your monthly budget.
Texas offers the TDHCA My First Texas Home for first-time buyers: Up to 5% DPA grant. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Texas presents moderate affordability. The $310K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.