Free tool · DFW & Oklahoma City
Know the payment before the offer.
Principal, interest, and the property taxes your actual county charges. No signup, no email, nothing to unlock.
Principal, interest, and the property taxes your actual county charges. No signup, no email, nothing to unlock.
Most calculators drop a flat national guess into the tax line. In Texas that is off by thousands a year. This one uses your county's real combined rate and applies the 140,000 dollar homestead exemption where it actually lands, against your school district taxes.
$2,995/ mo
Does not include title, escrow, prepaid taxes and insurance, or the appraisal, which vary by transaction. Your Loan Estimate lists all of them.
Principal and interest are exact math. Property tax and insurance are estimates built from published 2025 county, city, and school-district rates and state insurance averages. Insurance in particular moves a lot with your carrier, deductible, roof age, and what the policy actually covers. Your lender's escrow analysis and a real insurance quote set the final numbers. This is not a loan offer, a quote, or a pre-approval.
Tax tables · 2025 ratesYou should be able to audit an estimate before you trust it. Here is exactly what we calculate and what we assume.
We take the typical combined rate for the county you pick, published for the 2025 tax year, and split it into two parts: the school district share and everything else (county, city, college, hospital, and special districts).
If you tell us the home will be your primary residence, we subtract the Texas homestead exemption from the school district taxable value only, then apply the other rates to the full value. That split is the part most calculators skip.
What we cannot do from an address alone is name your exact school district, because district boundaries do not follow city lines. So we show the county's typical rate and its range, and we link you straight to the appraisal district to confirm your parcel's real assessed value and rate.
Where the other counties come from. For counties we have not researched one by one, we start from Census data on the median property tax actually paid in that county. Because that figure is already net of exemptions and the appraisal cap, we convert it to a gross rate using a factor measured against the counties we did verify. Oklahoma converts cleanly because its exemption is small. Texas varies more, so those counties carry a wider range and are labeled as estimates. We would rather show you an honest range than a precise number nobody checked.
Oklahoma works differently. Its homestead exemption is $1,000 of assessed value rather than market value, which is worth roughly a hundred dollars a year, so we model it as a small annual credit and say so.
Insurance. Estimated from published state averages against your dwelling coverage, which we set at 80 percent of the purchase price because land does not burn down and is not insured. Texas and Oklahoma both price high for hail and wind.
Mortgage insurance, by program. Conventional loans get a PMI estimate scaled to your loan-to-value, and it comes off at 20 percent equity. FHA carries annual MIP that on most FHA loans stays for the life of the loan. USDA carries an annual guarantee fee for the life of the loan. VA carries no monthly mortgage insurance at all.
The upfront fee is financed, and we count it. FHA, VA, and USDA each charge a one-time fee that is normally rolled into the loan. That makes the balance larger and the monthly payment higher, so we add it to the loan before calculating principal and interest instead of quietly ignoring it the way many calculators do.
Principal and interest is standard amortization math on the rate and term you enter. That part is exact. Everything in the tax and insurance lines is an estimate.
Not included: closing costs, prepaid escrow deposits, mortgage points, utilities, and special assessments such as a MUD or PID district, which are common in newer North Texas developments and can add meaningfully to a bill.
Sources: Texas Comptroller, county property tax directory · Texas Proposition 13 (2025), homestead exemption increase · Oklahoma Tax Commission, ad valorem · USDA Rural Development, property eligibility · U.S. Census Bureau, county reference file
Every one of the 254 counties in Texas and 77 in Oklahoma is selectable, and each one carries its own number rather than a single statewide average. The 16 counties below are the ones we checked one by one. Another 311 are estimated from Census data published for that specific county. A handful are too small for the Census to publish, so they fall back to the state average. The calculator always tells you which of the three you are looking at.
A discount point is prepaid interest. One point costs 1 percent of the loan amount, so on a $400,000 loan one point is $4,000, paid at closing. In exchange the lender lowers your interest rate.
How much of a rate cut a point buys is not fixed. It moves with the market and differs between lenders, which is why this calculator asks what your points cost and does not pretend to know what rate they earn you. Ask each lender to quote the same loan with and without points so you can see the actual trade.
The math that matters is the break-even. Divide the cost of the points by the monthly payment savings to get the number of months it takes to get your money back. If you are likely to sell or refinance before then, that cash does more for you somewhere else. Points are also on page 2, Section A of your Loan Estimate, not page 1.
Origination, underwriting, and processing fees pay for the work of making the loan: pulling and reviewing your credit and income, ordering the appraisal and title work, underwriting the file, drawing documents, and funding. A mortgage broker may also charge a fee for shopping your loan across several lenders.
These are negotiable and they vary a lot between lenders, which is exactly why comparing more than one Loan Estimate is worth real money. Compare the same loan amount and the same lock period, and look at the total of Section A rather than any single line.
Watch for a lender credit too, which works in reverse: you accept a slightly higher rate and the lender pays some of your closing costs. That can be the right move if you are short on cash at closing and plan to refinance later.
Texas homestead exemption: 140,000 dollars off school district taxable value, or 200,000 if you are 65 or older or disabled. It does not reduce your city or county taxes.
Yes. It is free, it has no signup, and it never asks for an email to show your numbers. Run it as many times as you like. The optional form near the bottom exists only if you want a human involved, and the calculator works exactly the same whether you use it or not.
More accurate than a national average, and still an estimate. We apply the typical combined tax rate for the county you select, split between the school district portion and the city and county portion, using published 2025 rates. Your exact rate depends on which city and school district your parcel sits in, so we show the range for the county and link you to the appraisal district to pull your specific number.
If the home is your primary residence, Texas exempts the first $140,000 of value from your school district taxes, and $200,000 if you are 65 or older or disabled. This is the detail most calculators get wrong: the exemption applies only to the school district part of your bill, not to the city and county part. We model those separately, which is why our tax number usually differs from other calculators.
Texas and Oklahoma are two of the most expensive states in the country for home insurance because of hail, wind, and tornado exposure, so a national average would understate your payment badly. We estimate from published state averages against your dwelling coverage. Your real premium depends on your carrier, deductible, roof age and material, claims history, and what the policy actually covers, so treat it as a planning number and get a real quote.
Both. Every county in Texas and Oklahoma is in the calculator, and Oklahoma is modeled on its own rules rather than being treated as Texas. Oklahoma assesses a fraction of fair cash value and then applies millage, and its homestead exemption is $1,000 of assessed value, which is worth roughly a hundred dollars a year rather than the large reduction Texas gives. Insurance is estimated from Oklahoma averages too, which run higher than Texas because of storm exposure.
Conventional loans carry private mortgage insurance when you put down less than 20 percent, and it comes off at 20 percent equity. FHA allows a lower down payment but charges an upfront premium plus annual MIP that usually lasts the life of the loan. VA is for eligible veterans and service members, allows zero down, and charges no monthly mortgage insurance, just a one-time funding fee. USDA allows zero down but the property has to be in an eligible rural area and household income limits apply. For FHA, VA, and USDA the upfront fee is normally financed into the loan, so we add it to the balance before calculating your payment.
It depends entirely on the program, and this is where people get burned. On a conventional loan, PMI is tied to your equity: you can request cancellation at 80 percent loan-to-value and the servicer must drop it automatically at 78 percent. FHA is not tied to equity at all. It is set by your down payment at closing: under 10 percent down, the monthly premium stays for the life of the loan, and at 10 percent or more it drops off after 11 years. Paying the balance down faster does not remove FHA mortgage insurance early, and FHA charges it even on a large down payment. The only early exit is refinancing out of FHA. VA loans carry no monthly mortgage insurance at all.
No. It is a math tool, not a lending decision, and nothing here is an offer of credit. A lender pre-approval verifies your income, assets, and credit, and it is what makes an offer competitive. We are happy to introduce you to a lender who can do that, and we are not paid anything for the introduction.
The calculator stays free either way. This is only if you want us to do something with it: pull the actual tax record on a specific property, introduce you to a lender or an insurance agent, or talk about representing you.
Got it. We will reach out personally, and only about what you asked for.
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