American math · Texas rules · Figures as of August 2026

Austin mortgage calculator

What an Austin mortgage costs each month, how long it runs, what it costs in total, and how much sooner it ends if you pay a little more. Built on monthly compounding and the 30-year fixed loan, and it charges you private mortgage insurance for exactly as long as the law lets a lender charge it, which is the line most calculators leave out.

Calculator

The purchase

20.0% down. The minimum on this price is $16,800. At 20% or more there is no mortgage insurance.

A US lender qualifies you on debt-to-income rather than at a stress-test rate, so this payment is the payment. What varies is the rate you are quoted: credit score, points paid at closing and the lender itself move it by more than half a point.

Payment frequency

An accelerated schedule is the monthly payment split in two or four and paid every two weeks or every week: thirteen monthly payments a year instead of twelve, which is where the shorter amortization comes from.

The contract length, not the amortization. At the end of it you renew at whatever rates are then available.

Paying it down faster

Most lenders cap annual prepayments at 10–20% of the original principal, and charge a penalty above it. Check your own commitment before planning around a large lump sum.

Where the money goes, year by year

Early payments are almost all interest. The crossover (the year principal finally exceeds interest) is the real shape of an amortized loan, and it is much later than most people expect.

Interest and principal paid in each year of the mortgageStacked columns, one per year. The lower band is principal, the upper band is interest. The same figures are listed in the table below.
PrincipalInterest
Show the first two years of the schedule
Amortization schedule, the first two years
PaymentAmountInterestPrincipalBalance
1$2,989.59$2,624.53$365.06$447,635
2$2,989.59$2,622.39$367.20$447,268
3$2,989.59$2,620.24$369.35$446,898
4$2,989.59$2,618.08$371.51$446,527
5$2,989.59$2,615.90$373.69$446,153
6$2,989.59$2,613.71$375.88$445,777
7$2,989.59$2,611.51$378.08$445,399
8$2,989.59$2,609.30$380.29$445,019
9$2,989.59$2,607.07$382.52$444,636
10$2,989.59$2,604.83$384.76$444,252
11$2,989.59$2,602.57$387.02$443,865
12$2,989.59$2,600.31$389.28$443,475
13$2,989.59$2,598.03$391.56$443,084
14$2,989.59$2,595.73$393.86$442,690
15$2,989.59$2,593.43$396.16$442,294
16$2,989.59$2,591.10$398.49$441,895
17$2,989.59$2,588.77$400.82$441,494
18$2,989.59$2,586.42$403.17$441,091
19$2,989.59$2,584.06$405.53$440,686
20$2,989.59$2,581.68$407.91$440,278
21$2,989.59$2,579.29$410.30$439,868
22$2,989.59$2,576.89$412.70$439,455
23$2,989.59$2,574.47$415.12$439,040
24$2,989.59$2,572.04$417.55$438,622

Derived from the figures above, not a lender's statement. A real schedule also depends on your closing date and the lender's rounding.

Your payment
$2,989.59
every month

Payment $2,989.59 every month. Paid off in 30 years. Total interest $628,249.

Monthly equivalent$2,989.59
Mortgage amount$448,000
Paid off in30 years
If you start now, aroundOctober 2056
Total interest$628,249
Total paid$1,076,249
Balance after 5 years$421,844
Principal 42%Interest 58%

An estimate from published figures, not a lender quote.

PMI is the number to watch, not the rate

If you put down less than 20% the lender adds private mortgage insurance to the payment. It insures the lender, not you, and on the $560,000 median Austin sale price it works out like this. At 5% down (a $532,000 loan) a representative rate is about 0.67% of the loan a year, or $297 a month. Federal law makes the lender terminate it automatically when the scheduled balance first reaches 78% of the purchase price, which on a 30-year loan at 7.03% happens in month 142. That is 11.8 years and about $42,200 of payments that buy you no equity at all. At 3% down it is $394 a month and roughly $59,500.

Two things shorten it. You can ask the lender to cancel at 80% rather than wait for 78%, which is a right under the Homeowners Protection Act if you are current on the loan, and paying extra principal gets you there faster, because the trigger is the balance on the schedule rather than what the house is worth. The calculator above moves the termination month when you add an extra payment. The first-time buyer programs matter here too: the state's and the City of Austin's assistance goes toward the down payment, and a larger down payment is the one thing that removes the insurance altogether.

The rate you are quoted is a personal number

This is the biggest difference from the Canadian pages on this site. There, CMHC publishes one premium schedule for the whole country and a lender either applies it or does not. Here the mortgage insurer prices you individually, mostly on credit score, and the same 5%-down loan can be quoted anywhere from about 0.4% to 1.3%. The bands used above are mid-market for a borrower around a 740 score. The loan rate itself moves too: Freddie Mac's survey had the 30-year fixed at 7.03% on 24 September 2026, against 6.30% a year earlier. Get a real quote before treating any of these totals as yours.

Monthly compounding, and why the Canadian number would be wrong

An American fixed-rate mortgage compounds monthly: the periodic rate is simply the annual rate divided by twelve. Canadian mortgages compound twice a year, which makes the same nominal rate slightly cheaper. On a $448,000 loan at 7.03% over 30 years the American payment is $2,989.59 and the Canadian convention would give $2,959.28: $30 a month, or about $10,900 over the life of the loan. This site runs both, and no page borrows the other country's arithmetic.

A biweekly plan is thirteen payments, not clever compounding

Paying half the monthly payment every two weeks means twenty-six half-payments a year, which is thirteen monthly payments' worth of money instead of twelve. On the benchmark loan with 20% down that takes a 30-year mortgage to about 24 years and saves roughly $158,100 in interest. There is nothing magic in it (it is simply paying about 8% more every year) and you can get the identical result by adding a twelfth of the payment to each monthly one, without a servicer's enrollment fee.

What this cannot tell you

The payment above is principal and interest, plus PMI where it applies. Your actual monthly bill will include property tax and homeowners insurance, which the lender will usually escrow: on a $560,000 house that is about $752 a month in tax at the 1.61% effective rate and roughly $300 in insurance, so about $4,041 all in at 20% down. In Texas the tax line is the one to watch: that rate assumes you have filed for the homestead exemptions, which are not automatic, and the escrow account the lender opens at closing is sized to it. Add an association fee if the house has one, which close to half of Austin's owners pay. It also cannot tell you your closing costs, which in Texas run to the title company's escrow fee, split with the seller, a lender's title policy and its endorsements, an inspection, a survey or the seller's affidavit that the old one still holds, the Travis County Clerk's recording fees, and whatever the lender charges to originate the loan. There is no transfer tax to pay at all: the state constitution forbids one. For the full comparison against renting, use the rent versus buy calculator.

Sources

  1. August 2026 Central Texas housing report · Unlock MLS · retrieved
    Supports: A median residential sale price of $560,000 in the City of Austin in August 2026, down 4.3% from August 2025, 844 homes sold, down 10.3%, 4,554 active listings and 4.6 months of inventory in the City of Austin, No split of the city figures by property type
  2. Zillow Home Value Index, all homes, middle tier, smoothed and seasonally adjusted, by city · Zillow Research · retrieved
    Supports: A typical home value of $497,418 for the city of Austin (region 10221) in August 2026, $516,564 in August 2025, so a fall of 3.7% over the year
  3. Zillow Home Value Index, single-family and condominium series, by city · Zillow Research · retrieved
    Supports: A typical single-family value of $527,943 in the city of Austin in August 2026, against $546,174 a year earlier, down 3.3%, A typical condominium value of $355,596 in the same month, against $375,347, down 5.3%, from the condominium file at https://files.zillowstatic.com/research/public_csvs/zhvi/City_zhvi_uc_condo_tier_0.33_0.67_sm_sa_month.csv
  4. Austin, TX average rent and rent trends · RentCafe / Yardi Matrix · retrieved
    Supports: An average Austin apartment rent of $1,641, down 2.25% from $1,678 a year earlier, updated 31 August 2026, Average rents of $1,287 studio, $1,421 one-bedroom, $1,812 two-bedroom and $2,405 three-bedroom
  5. Zillow Observed Rent Index, all homes plus multifamily, smoothed, by city · Zillow Research · retrieved
    Supports: An observed rent index of $1,586 for the city of Austin in August 2026, down 0.31% from $1,591 a year earlier
  6. Tax rates and truth-in-taxation rate table, all taxing units · Travis County Tax Assessor-Collector · retrieved
    Supports: 2025 adopted rates per $100: Travis County 0.375845, City of Austin 0.524017, Austin ISD 0.9252, Austin Community College 0.1034, Travis County Healthcare District (Central Health) 0.118023, 2026 adopted rates for Travis County (0.386210), the City of Austin (0.579948), ACC (0.103643) and Central Health (0.132863), and no adopted 2026 rate yet for Austin ISD
  7. 2026 exemption listing, Travis County taxing units · Travis Central Appraisal District · retrieved
    Supports: A residence homestead exemption of $140,000 for Austin ISD, with no local option, Local option homestead exemptions of 20% with a $5,000 minimum for Travis County, the City of Austin and the Travis County Healthcare District, and 1% with a $5,000 minimum for Austin Community College, The same exemptions in the 2025 listing, dated 25 July 2025
  8. Property tax rates · City of Austin Budget Office · retrieved
    Supports: A fiscal 2026 rate of 0.524017 per $100, maintenance and operations 0.410282 and debt service 0.113735, A fiscal 2027 rate of 0.579948 per $100, adopted on 12 August 2026
  9. Ordinance No. 20251120-006, reducing the fiscal 2025-2026 tax rate to the voter-approval rate · City of Austin · retrieved
    Supports: The Council adopted a rate above the voter-approval rate on 13 August 2025, which triggered an automatic election, Proposition Q did not win a majority at the 4 November 2025 election, The rate reduced to the voter-approval rate of $0.524017 per $100 under Tax Code section 26.07(e), effective 1 December 2025
  10. Notice about tax year 2026 property tax rates and impact statement · Austin Independent School District · retrieved
    Supports: A 2025 rate of 0.9252 per $100, maintenance and operations 0.8022 and debt service 0.1230, A proposed 2026 rate of 0.9184, maintenance and operations 0.7954 and debt service 0.1230
  11. Austin ISD claims victory in tax rate election · KUT News · retrieved
    Supports: Austin ISD's Proposition A passed on 5 November 2024 with about 58% of the vote, raising the district's rate 9.1 cents, from 0.8595 to 0.9505 per $100
  12. Travis County Prop A, affordable child care passes with majority of vote in 2024 election, unofficial results show · Community Impact · retrieved
    Supports: Travis County's Proposition A, a tax rate increase of 2.5 cents per $100 to fund child care, passed on 5 November 2024 with 59.43% of the vote, 321,043 to 219,141
  13. Truth-in-taxation rate table, all Travis County taxing units, 2022 to 2026 · Travis County Tax Assessor-Collector · retrieved
    Supports: Travis Central Health: a 2026 total rate of 0.132863 per $100, maintenance and operations 0.123603 and debt service 0.00926, against a no-new-revenue rate of 0.118633 and a voter-approval rate of 0.135195; a 2025 total rate of 0.118023, Travis County: a 2024 total rate of 0.344445 per $100 against a voter-approval rate of 0.319445, the 2.5 cents voters approved, Austin ISD: total rates of 0.8595 for 2023 and 0.9505 for 2024, and for 2026 a no-new-revenue and voter-approval rate but no total rate
  14. ACC approves new property tax rate for fiscal year 2025-26 · Austin Community College District · retrieved
    Supports: A 2025 rate of 0.1034 per $100
  15. Central Health board approves fiscal year 2027 tax rate and budget · Central Health (Travis County Healthcare District) · retrieved
    Supports: The Board of Managers adopted the fiscal 2027 tax rate on Wednesday, 9 September 2026, in a release dated 10 September; the rate itself is in the county's rate table above
  16. Fiscal year 2027 tax rate impact statement · Travis County · retrieved
    Supports: A county tax of $1,653.72 in 2025 on a $550,000 homestead after the 20% exemption, the same arithmetic as here, The 2025 rate set with the disaster calculation after the July 2025 floods, which the county said would come out for fiscal 2027
  17. Property tax exemptions · Texas Comptroller of Public Accounts · retrieved
    Supports: A school district residence homestead exemption of $140,000 under Tax Code section 11.13(b), from Proposition 13 approved on 4 November 2025 and effective for the 2025 tax year, Local option homestead exemptions of up to 20% of appraised value, and not less than $5,000, under section 11.13(n), A prorated exemption in the year of purchase only if the previous owner did not have one
  18. Valuing property: the homestead cap and the circuit breaker limitation · Texas Comptroller of Public Accounts · retrieved
    Supports: A residence homestead's appraised value may not rise more than 10% a year, from the year after the owner first qualifies, A 20% annual limit on the appraised value of non-homestead property valued at $5 million or less, the circuit breaker, which expires on 31 December 2026
  19. Tax Code, Section 41.44: notice of protest · Texas Legislature · retrieved
    Supports: A protest must be filed by 15 May or the 30th day after the appraisal notice is delivered, whichever is later
  20. 2025 annual report · Travis Central Appraisal District · retrieved
    Supports: 210,038 property value appeals filed in 2025, A districtwide single-family median level of appraisal of 1.00
  21. School district property value study, 2024 final findings, Austin ISD · Texas Comptroller of Public Accounts · retrieved
    Supports: Austin ISD's local value found within the confidence interval of the state's estimate, so the appraisal district's values stand as market value
  22. 2026 market values on their way · Travis Central Appraisal District · retrieved
    Supports: A median residence homestead market value of $493,449 in Travis County for 2026, against $519,677 in 2025
  23. Annexation · City of Austin Planning Department · retrieved
    Supports: The City collects no property tax in limited-purpose areas, On full-purpose annexation an area's emergency services district tax may be eliminated
  24. Senate Bill 2, 86th Legislature: the Texas Property Tax Reform and Transparency Act of 2019 · Texas Legislature Online · retrieved
    Supports: The enrolled bill summary names Senate Bill 2 of 2019, by Bettencourt et al., the Texas Property Tax Reform and Transparency Act of 2019, with provisions taking effect from 1 January 2020 to 1 January 2022
  25. Property tax process post-Senate Bill 2 (2019): explanatory Q&A · Texas Municipal League · retrieved
    Supports: S.B. 2 lowers the multiplier in a city's voter-approval rate from 8 percent to 3.5 percent more maintenance and operations revenue, for nearly every Texas city, A city that adopts a rate above the 3.5 percent voter-approval rate must hold an automatic election on the November uniform election date, where before voters had to petition for one
  26. Truth in taxation · Texas Comptroller of Public Accounts · retrieved
    Supports: The voter-approval rate gives taxing units other than school districts and special taxing units about the previous year's operating revenue plus an extra 3.5 percent
  27. Geologic wonders of Texas: Central Texas · Bureau of Economic Geology, The University of Texas at Austin · retrieved
    Supports: In Austin the Balcones escarpment generally parallels MoPac (Loop 1): west of it the city is hilly and east of it relatively flat, Hard Lower Cretaceous limestones and dolostones form the hills to the west, and younger Upper Cretaceous rocks including clays the flatter ground to the east
  28. Houston Black: Texas state soil · Soil Science Society of America, with USDA Natural Resources Conservation Service figures · retrieved
    Supports: Houston Black, a smectite clay that shrinks when dry and swells when wet, is found in the Blackland Prairie along the route of Interstate 35 from north of Dallas to just south of San Antonio, Construction on it is often plagued by cracking from the shrinking and swelling, and building foundations need reinforcing
  29. Floodplain management · City of Austin Watershed Protection Department · retrieved
    Supports: NOAA's Atlas 14 rainfall study of 2018 found Central Texas getting heavier rain than previously thought, and the City is updating its floodplain maps from it, In November 2019 the City based its development regulations on the current FEMA 500-year floodplain instead of the 100-year floodplain, pending completion of the updated maps; the maps are on ATXFloodPro
  30. Flood zones · Federal Emergency Management Agency · retrieved
    Supports: The Special Flood Hazard Area is the land flooded by the 1-percent-annual-chance flood, the base or 100-year flood; the ground between it and the 500-year flood is a moderate-risk zone
  31. Understanding flood risk: real estate, lending and insurance professionals · Federal Emergency Management Agency · retrieved
    Supports: Federally regulated or insured lenders must require flood insurance for every building in a Special Flood Hazard Area with a federally backed loan
  32. Primary Mortgage Market Survey, 24 September 2026 · Freddie Mac · retrieved
    Supports: A 30-year fixed-rate mortgage averaging 7.03%, up from 6.95% the week before and 6.30% a year earlier
  33. Texas homeowners insurance market overview · Texas Department of Insurance · retrieved
    Supports: A statewide average homeowners premium of $3,489 a year, from the Texas Statistical Plan for Residential Risks, Hail as the largest cause of paid homeowners losses in every year from 2016 to 2025 except 2021
  34. Texas homeowners insurance · NerdWallet · retrieved
    Supports: An average Austin premium of $4,250 a year and a Texas average of $5,910, for $500,000 of dwelling cover
  35. How much is homeowners insurance in Austin, TX? · Insure.com · retrieved
    Supports: An average Austin premium of $2,698 a year for $300,000 of dwelling cover, $100,000 of liability and a $1,000 deductible, updated 27 May 2026
  36. Renters insurance in Texas · NerdWallet · retrieved
    Supports: An average Austin renters premium of $136 a year for $30,000 of personal property
  37. Monthly homeowners' or condominium association fee, table B25143, 2024 American Community Survey 1-year estimates, Austin city · United States Census Bureau · retrieved
    Supports: A median monthly association fee of $76 among Austin owner-occupied units that pay one, 88,975 of 199,801 owner-occupied units, or 44.5%, paying such a fee, from table B25142
  38. City of Austin utility rates and fees, effective 1 July 2026 · City of Austin · retrieved
    Supports: A residential solid waste charge of $23.80 a month plus $4.70 to $40.30 by cart size, Clean Community fees of $5.45 and $4.80 a month, charged to every residential customer, A transportation user fee of $21.80 a month for a single-family home
  39. Homebuyer resources: Down Payment Assistance · City of Austin Housing Department · retrieved
    Supports: Up to $40,000 in assistance for first-time buyers at or below 80% of median family income, A sales price of no more than $440,000, on a home inside Austin's full-purpose city limits
  40. Conforming loan limit values for 2026, by county · Federal Housing Finance Agency · retrieved
    Supports: A baseline one-unit conforming loan limit of $832,750 for 2026, which is the limit in Travis County
  41. Annual estimates of the resident population for incorporated places, 2020 to 2025 · United States Census Bureau, Population Estimates Program · retrieved
    Supports: A population of 1,002,632 for Austin on 1 July 2025, against 961,855 at the 2020 census
  42. 2025 Gazetteer files: places, Texas · United States Census Bureau · retrieved
    Supports: A land area of 325.013 square miles for Austin city, against 319.937 in the 2020 file

These are estimates built from published figures, not a lender quote, a pre-approval or financial advice. Rates, premiums and state and federal rules change; confirm anything you plan to act on with a mortgage professional and read the sourcing methodology.