Trusted Partnership
Personalized Pathway: Our app builds your step-by-step plan
Texas Mortgage Calculator & Home Buying Guide
Real Support to Get You Approved
Get Mortgage-Ready in Texas — Even with Bad Credit or Low Savings
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Having Trouble Getting a Mortgage? That's Where My Home Pathway Comes In
If you’ve tried buying a home and hit a wall, you're not alone. Whether you've been turned down by a mortgage lender, confused by your credit report, or overwhelmed by all the "what ifs" — we get it. We exist to make this process clearer, simpler, and more doable. We're not a bank. We're your guide. Our mission? Help you walk into that lender meeting knowing you're 100% ready.
Read more about why mortgages get denied or how to bounce back from a pre-approval denial.
If you’re tired of being overlooked or rejected, let’s change that. We’re not a bank. We’re a guide. Get ready to walk into the bank knowing you’re the most prepared person in the room.
Mortgage Calculator – Texas: Estimate Your Monthly Mortgage Payments
Use our Texas mortgage calculator to estimate your monthly payments based on your home’s purchase price, loan amount, interest rate, and other costs like property taxes, private mortgage insurance (PMI), HOA fees, and homeowners insurance.
Enter your down payment and loan details
See how changes to your loan term, loan types, or interest rate affect your monthly cost
Understand how to avoid private mortgage insurance by making a bigger down payment
Try the tool now to uncover your ideal mortgage payment calculator result.
Home Price*
Down Payment*
Enter either $ or %
Loan Term*
Interest Rate*
ZIP Code*
Enter your ZIP to see codesHOA Fees Per Month
Credit Score
Double check your scoreHomeowner's Insurance Per Month
PMI Per Month
Property Tax Per Month
Monthly Payment Breakdown
Based on your inputs
0 / mo
Principal &
Interest
Property Tax
Homeowner's
Insurance
PMI
HOA Fees
Real estate Snapshot - Texas 2024
$349,000
Avg. Home Price
1.80%
Avg. Property Taxes
$2,015
Avg. Monthly Mortgage Payment
$72,000+
Median Income Needed
Understanding the current market conditions can help you choose the right mortgage loans for your needs.
Use our Texas Mortgage Calculator to run your numbers based on local private mortgage insurance, taxes, and interest rates. Figure out your monthly mortgage payment here.
Real Estate in Texas
Texas remains one of the most sought-after states for homebuyers. With no state income tax, diverse housing markets, and thriving job centers like Austin and Dallas, buyers are flocking in. Still, higher mortgage rates and rising home values mean understanding your monthly income and full payment breakdown is more important than ever. If you're still wondering whether it's better to rent or buy a home, this context can help clarify your options.
More Reasons to Love Life in Texas: Understanding Closing Costs
Common Texas Housing Challenges We Help Solve with the Texas Department of Housing and Community Affairs
Homebuyers in Texas often face high closing costs, unexpected title insurance fees, and difficulty covering origination fees. My Home Pathway helps you discover programs from the Texas Department of Housing and Community Affairs and other agencies that can help you cover closing costs, get payment assistance, or reduce your interest rate.
We also help you explore programs like down payment assistance in Texas, so you’re not stuck saving for years. And if you’re curious about how much home you can afford, our free Texas mortgage calculator helps you run the numbers with local rates and homeowners insurance factored in. So you can figure out your monthly mortgage payments right here. Understanding your monthly payment is crucial as it comprises principal and interest, and may not include additional costs such as private mortgage insurance.
Plus, if you’re wondering about FHA loan requirements in Texas, we’ll show you what matters — and what doesn’t — when it comes to getting approved.
We understand that it’s about more than just a monthly mortgage payment or Texas FHA loan requirements, this is one of the most important decisions of your life.
Common Texas Housing Challenges We Help Solve with Texas Housing Finance Corporation:
Denied for a mortgage loan and unsure why
Struggling with a low credit score and unsure how to improve it
Low credit score or limited credit history
Unfavorable income stream (self-employed or gig economy income)
Unclear on how the purchase price affects down payment and closing costs
We remove the guesswork. Our platform walks you through exactly what to do, in what order, to become mortgage-ready in Texas.
The Challenge
Loan denials, redlining, credit gaps.
The Solution
MHP builds financial health and mortgage readiness.
The Opportunity
Better loan access and long-term ownership.
Understanding Your Home Loan Options
You’ll encounter different loan types when borrowing money, including options that may or may not be affected by your credit score. To avoid surprises during your application, check out our advice on what to do if you're denied pre-approval:
Fixed rate mortgage: Your interest rate remains steady over the life of the loan
Adjustable rate mortgage (ARM): Starts lower but can mean higher monthly payments later
Conventional loan: Requires stronger credit but may offer better terms
FHA loan: Backed by the Federal Housing Administration, with lower down payment options
Explore which mortgage loan makes sense for your income, credit, and goals.
FHA Loan Overview
The FHA offers generous maximum loan amounts, flexible monthly payment structures, and protections that help more Texans buy. You’ll still pay mortgage insurance for most of the loan's lifetime, but many buyers prefer the lower upfront requirements.
If you're working with bad credit, check out our FHA pre-approval guide to see how it fits into your homeownership plan.
First-time Homebuyer Programs in Texas
From closing cost assistance to payment scenarios tailored to your budget, Texas supports new buyers with access to:
Down payment assistance
Reduced interest paid
Options to pay PMI upfront or avoid it entirely with a larger home price offset
If you're unsure where to start, our step-by-step home buying guide walks you through the process.
Texas Down Payment Assistance Programs
Qualifying buyers may receive grants or second loans to help with the down payment, escrow account, and other monthly costs. These programs can reduce your total monthly payment and increase your buying power — even if you're unsure about how much house you can afford. Learn about the best time to buy a house based on seasonal trends and rate forecasts.
Take Your First Step Toward Homeownership Today!
Sign up now to see how My Home Pathway helps buyers who’ve been denied before get a real shot at approval. Learn how we help you achieve homeownership or see what happens after you're pre-approved.
Meeting Texas FHA Loan Requirements
Understanding the specific requirements for FHA loans in Florida can help you prepare and increase your chances of approval. Here’s what you need to know:
Credit Score and Down Payment Requirements
Lenders look at your credit score to see if you qualify for an FHA loan in Texas.
The minimum credit score required is 500.
However, if your credit score is 580 or higher, you could be eligible for a down payment as low as 3.5%.
For those with credit scores between 500 and 579, a 10% down payment is required.
Knowing where your credit score stands can help you plan your down payment and overall budget more effectively.
Debt-to-Income Ratio and Loan Limits
FHA loans also consider your debt-to-income (DTI) ratio, which should generally not exceed 50%.
Additionally, FHA loan limits vary by county in Texas.
For example, the limit for a single-family home in most counties is $524,225, while in Monroe County, it’s $967,150.
Working with a mortgage lender can help you navigate these details and find the best loan options for your needs.
A minimum credit score of 580
Steady proof of monthly income
A home’s appraised value that supports the purchase price
An insurance policy and coverage of tax bills
Acceptance of private mortgage insurance PMI unless you qualify to avoid it
Why Texas Homebuyers Trust Us: FHA Loan Expertise
Real Data, Real Results: Know exactly how your profile stacks up
Multiple Lender Options: Once you’re ready, lenders come to you
Education First: Understand your finances before signing anything
Affordable Monthly Payments: Understand how different loan terms can affect your monthly payments and overall affordability
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