FHA Loan Texas Calculator
Buying a home in Texas can be overwhelming, especially with the different loan options and county-based limits. An FHA loan is a popular choice for first-time homebuyers or those with limited down payment funds. To simplify your planning, our FHA Loan Texas Calculator allows you to estimate your total loan, monthly payments, and more—accurately tailored to Texas-specific rules.
Whether you're in Dallas, Houston, or a smaller county, this calculator gives you a clear view of what you can afford and what to expect financially.
What Is an FHA Loan in Texas?
An FHA loan is a mortgage insured by the Federal Housing Administration. It allows buyers to qualify with a lower down payment, typically 3.5% of the home price, and more flexible credit requirements.
In Texas, FHA loans are subject to county-based loan limits, meaning the maximum amount you can borrow varies depending on where your property is located. The loan limit for high-cost counties is higher than for standard counties, making location a key factor in your homebuying plan.
How to Use the FHA Loan Texas Calculator
Using the calculator is simple, and no technical knowledge is required. Here's a step-by-step guide:
- Enter Home Price:
Input the price of the home you plan to buy in Texas. - Enter Down Payment:
Enter the percentage of your down payment. FHA loans require a minimum of 3.5%. - Enter Interest Rate:
Enter the annual mortgage interest rate offered by your lender. - Select Loan Term:
Choose either a 15-year or 30-year mortgage. - Select County:
Pick the county where your property is located—low-cost or high-cost. - Enter Property Tax Rate:
Input your county’s property tax rate (Texas average: 1.6–2.2%). - Enter Home Insurance:
Add your annual homeowners insurance premium (Texas average: $2000–$3000). - Enter HOA Fees (Optional):
Include monthly HOA fees if applicable. - Click Calculate:
Press the “Calculate” button to see your results. - View Results:
The calculator displays:- FHA loan limit
- Down payment amount
- Base loan amount
- Upfront Mortgage Insurance Premium (MIP)
- Total loan amount
- Monthly principal & interest
- Monthly MIP
- Property tax & insurance
- Total monthly payment
- Reset Values:
Click “Reset” to start over or adjust numbers for a different scenario.
Example: Using the Calculator
Let’s say you want to buy a home in a high-cost Texas county with the following details:
- Home price: $400,000
- Down payment: 3.5%
- Interest rate: 6%
- Loan term: 30 years
- Property tax rate: 1.8%
- Home insurance: $2,500
- HOA fees: $0
Steps in the Calculator:
- Enter 400,000 in Home Price.
- Enter 3.5 in Down Payment.
- Enter 6 in Interest Rate.
- Select 30 Years for Loan Term.
- Select High-Cost County.
- Enter 1.8 in Property Tax Rate.
- Enter 2,500 in Home Insurance.
- Leave HOA Fees at 0.
After clicking Calculate, the calculator will show:
- FHA Loan Limit: $498,257
- Down Payment Amount: $14,000
- Base Loan Amount: $386,000
- Upfront MIP (1.75%): $6,755
- Total Loan Amount: $392,755
- Monthly Principal & Interest: ~$2,357
- Monthly MIP: ~$262
- Property Tax: ~$600/month
- Home Insurance: ~$208/month
- Total Monthly Payment: ~$3,427
This clear breakdown helps buyers budget effectively and avoid surprises.
Why Use an FHA Loan Texas Calculator?
- Plan Your Budget Accurately:
Know exactly how much you need upfront and what your monthly payments will be. - Understand Loan Limits:
Texas FHA loan limits vary by county. This tool checks if your desired loan exceeds the limit. - Estimate MIP & Taxes:
Monthly payments include MIP, property taxes, and insurance, giving a realistic total. - Compare Different Scenarios:
Adjust down payment, interest rate, or home price to see the financial impact. - Save Time:
Avoid manual calculations, spreadsheets, or guesswork.
Helpful Tips
- Increase Down Payment to Reduce MIP:
Paying more than 3.5% can lower your monthly mortgage insurance premium. - Check County Limits:
Loan limits are updated annually. Make sure your desired home fits within limits. - Include All Costs:
Don’t forget HOA fees, property taxes, and insurance in your budget. - Compare Interest Rates:
Small differences in interest rates can significantly affect your monthly payment.
15 FAQs About FHA Loans in Texas
- What is the minimum down payment for an FHA loan in Texas?
3.5% of the home price. - Can I use an FHA loan for a second home?
No, FHA loans are for primary residences only. - Do FHA loans have income limits in Texas?
No, FHA loans do not have income limits but have loan limits per county. - What are FHA loan limits in Texas?
Low-cost counties: $472,030, high-cost counties: $498,257 (2026 limits). - What is MIP?
MIP is Mortgage Insurance Premium required for FHA loans. - How is the monthly MIP calculated?
It’s based on loan amount, down payment, and loan term. - Are property taxes included in FHA monthly payments?
They are not required but recommended to include for budgeting. - Can I refinance my FHA loan?
Yes, FHA loans can be refinanced, including streamlined FHA refinance. - How do I know my FHA loan limit?
It depends on the Texas county where the property is located. - Can I have a down payment less than 3.5%?
No, 3.5% is the minimum for FHA loans. - Do FHA loans cover closing costs?
Yes, but sellers may also contribute to closing costs. - Can I pay off my FHA loan early?
Yes, there’s no prepayment penalty. - Is HOA included in FHA calculations?
Only if you enter it manually in the calculator. - Can I use gift money for the down payment?
Yes, FHA allows gift funds from family members. - Does the calculator consider Texas property taxes?
Yes, you can enter the property tax rate for an accurate estimate.
With this tool, Texas homebuyers can confidently plan their budget, understand the total costs, and make informed decisions about FHA loans.