American math · Texas rules · Figures as of August 2026

Dallas mortgage calculator

What a Dallas 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 $14,097. 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$2,508.58$2,202.26$306.32$375,614
2$2,508.58$2,200.47$308.11$375,306
3$2,508.58$2,198.67$309.91$374,996
4$2,508.58$2,196.85$311.73$374,684
5$2,508.58$2,195.02$313.56$374,370
6$2,508.58$2,193.19$315.39$374,055
7$2,508.58$2,191.34$317.24$373,738
8$2,508.58$2,189.48$319.10$373,419
9$2,508.58$2,187.61$320.97$373,098
10$2,508.58$2,185.73$322.85$372,775
11$2,508.58$2,183.84$324.74$372,450
12$2,508.58$2,181.94$326.64$372,123
13$2,508.58$2,180.02$328.56$371,795
14$2,508.58$2,178.10$330.48$371,464
15$2,508.58$2,176.16$332.42$371,132
16$2,508.58$2,174.21$334.37$370,798
17$2,508.58$2,172.26$336.32$370,461
18$2,508.58$2,170.29$338.29$370,123
19$2,508.58$2,168.30$340.28$369,783
20$2,508.58$2,166.31$342.27$369,440
21$2,508.58$2,164.31$344.27$369,096
22$2,508.58$2,162.29$346.29$368,750
23$2,508.58$2,160.26$348.32$368,402
24$2,508.58$2,158.22$350.36$368,051

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
$2,508.58
every month

Payment $2,508.58 every month. Paid off in 30 years. Total interest $527,173.

Monthly equivalent$2,508.58
Mortgage amount$375,920
Paid off in30 years
If you start now, aroundOctober 2056
Total interest$527,173
Total paid$903,093
Balance after 5 years$353,973
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 $469,900 median Dallas single-family sale price it works out like this. At 5% down (a $446,405 loan) a representative rate is about 0.67% of the loan a year, or $249 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 $35,400 of payments that buy you no equity at all. At 3% down it is $330 a month and roughly $49,900.

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 Dallas'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 $375,920 loan at 7.03% over 30 years the American payment is $2,508.58 and the Canadian convention would give $2,483.16: $25 a month, or about $9,200 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 $132,700 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 $469,900 house that is about $621 a month in tax at the 1.58% effective rate and roughly $400 in insurance, so about $3,529 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 about one in five Dallas owners pays, and a public improvement district's assessment if the address is inside one. 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 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. NTREIS monthly MLS summary report, August 2026 · North Texas Real Estate Information System and the Texas Real Estate Research Center at Texas A&M University, via the MetroTex Association of REALTORS · retrieved
    Supports: A median single-family sale price of $469,900 in the City of Dallas in August 2026 on 640 sales, against $499,900 on 667 sales in August 2025, A median townhouse sale price of $543,000 on 30 sales, against $475,000 on 42, and a median condominium sale price of $310,000 on 121 sales, against $237,000 on 136, 2,725 active single-family listings and 4.2 months of inventory in the City of Dallas, A median single-family lease of $2,850 a month on 276 leases, City figures by property type only, with no all-types median
  2. Housing market reports · MetroTex Association of REALTORS · retrieved
    Supports: Monthly reports featuring data from the Texas A&M Real Estate Research Center, based on listings of properties physically located within the specified geographic areas
  3. Zillow Home Value Index, all homes, middle tier, smoothed and seasonally adjusted, by city · Zillow Research · retrieved
    Supports: A typical home value of $305,765 for the city of Dallas (region 38128) in August 2026, $310,919 in August 2025, so a fall of 1.7% over the year
  4. Zillow Home Value Index, single-family and condominium series, by city · Zillow Research · retrieved
    Supports: A typical single-family value of $319,987 in the city of Dallas in August 2026, against $324,674 a year earlier, down 1.4%, A typical condominium value of $208,501 in the same month, against $222,477, down 6.3%, 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
  5. Dallas, TX average rent and rent trends · RentCafe / Yardi Matrix · retrieved
    Supports: An average Dallas apartment rent of $1,592, down 0.92% from $1,607 a year earlier, updated 31 August 2026, Average rents of $1,245 studio, $1,416 one-bedroom, $1,853 two-bedroom and $2,221 three-bedroom
  6. Zillow Observed Rent Index, all homes plus multifamily, smoothed, by city · Zillow Research · retrieved
    Supports: An observed rent index of $1,591 for the city of Dallas in August 2026, up 0.63% from $1,581 a year earlier
  7. 2025 ad valorem tax rates for Dallas County, revised 5 November 2025 · Dallas Central Appraisal District · retrieved
    Supports: 2025 rates per $100: Dallas County 0.215500, Parkland Hospital 0.212000, Dallas College 0.106575, Dallas 0.698800, Dallas ISD 0.993835, Optional homestead exemptions of 20% for Dallas County, Parkland Hospital, Dallas College and the City of Dallas, and 10% for Dallas ISD, A general homestead exemption of $140,000 for every school district, contingent on the November 2025 constitutional amendment, A calculated local optional homestead value of not less than $5,000, Separate rates and exemptions for Highland Park, University Park, Cockrell Hill and Highland Park ISD
  8. 2026 estimated ad valorem tax rates for Dallas County, revised 4 March 2026 · Dallas Central Appraisal District · retrieved
    Supports: The 2026 table was an estimate, repeating the 2025 rates for the five units, when these figures were retrieved
  9. 2025 and 2026 residence homestead average and median values · Dallas Central Appraisal District · retrieved
    Supports: A certified median residence homestead market value of $364,530 in the City of Dallas for 2025, on 177,599 homesteads, A certified median of $364,000 for 2026, on 172,862 homesteads, in the table dated 22 July 2026
  10. Annual report, 2025 appraisal year · Dallas Central Appraisal District · retrieved
    Supports: 230,276 protests received for the 2025 appraisal year, 180,733 of them residential, and 788,553 appraisal notices mailed, A protest process that begins around 15 April and concludes by 20 July each year
  11. 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
  12. 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
  13. 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
  14. Midtown Improvement District · City of Dallas Office of Economic Development · retrieved
    Supports: The Midtown Improvement District, formerly the Vickery Meadow Public Improvement District, established in 1993 and renewed to 31 December 2032, An annual budget and assessment rate subject to a public hearing and Dallas City Council approval
  15. Public Improvement Districts (PIDs) layer · City of Dallas · retrieved
    Supports: Public improvement districts mapped by the City including Dallas DID, Uptown, Deep Ellum, Klyde Warren/DAD, Knox Street, Oak Lawn-Hi Line, Prestonwood, Lake Highlands, North Lake Highlands, Midtown, University Crossing, South Side, Far East Dallas and RedBird
  16. 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
  17. Texas homeowners insurance market overview · Texas Department of Insurance · retrieved
    Supports: A statewide average homeowners premium of $3,489 a year for 2025, from the Texas Statistical Plan for Residential Risks, Hail as the largest cause of paid homeowners losses, $4.93 billion in 2024 against $2.21 billion for wind
  18. Insurance and your roof: what to know when buying a policy or filing a claim · Texas Department of Insurance · retrieved
    Supports: Replacement cost coverage pays for a new roof at current prices, and actual cash value coverage pays replacement cost minus depreciation, As roofs age, some companies will switch to actual cash value, A deductible for wind and hail damage can differ from the deductible for other damage
  19. Texas homeowners insurance · NerdWallet · retrieved
    Supports: An average Dallas premium of $6,915 a year and a Texas average of $5,910, for $500,000 of dwelling cover, updated 20 February 2026
  20. How much is homeowners insurance in Dallas, TX? · Insure.com · retrieved
    Supports: An average Dallas premium of $4,212 a year for $300,000 of dwelling cover, $100,000 of liability and a $1,000 deductible, updated 27 May 2026
  21. Renters insurance in Texas · NerdWallet · retrieved
    Supports: An average Dallas renters premium of $167 a year for $30,000 of personal property, updated 23 September 2026
  22. Monthly homeowners' or condominium association fee, table B25143, 2024 American Community Survey 1-year estimates, Dallas city · United States Census Bureau · retrieved
    Supports: A median monthly association fee of $280 among Dallas owner-occupied units that pay one, 50,335 of 226,859 owner-occupied units, or 22.2%, paying such a fee, from table B25142
  23. City of Dallas utility fees effective 1 October 2025 · City of Dallas · retrieved
    Supports: A residential sanitation fee of $40.09 a month, $43.40 with tax, A residential stormwater fee of $5.39 to $21.01 a month by impervious area, An environmental cleanup fee of $3.00 a month on every City of Dallas utility account
  24. Dallas Homebuyer Assistance Program (DHAP) · City of Dallas Housing and Homelessness Solutions · retrieved
    Supports: Assistance of up to $60,000 in High Opportunity Areas and $50,000 elsewhere in Dallas, for households at or below 80% of area median income, A maximum sales price of $342,000 for existing and newly built homes, for contracts from 1 September 2024, A second lien as an interest-free forgivable deferred loan with no monthly payments, prorated annually, with partial repayment due on a sale, lease or transfer, Administered by Business and Community Lenders of Texas from 1 May 2026
  25. Annual estimates of the resident population for incorporated places, 2020 to 2025 · United States Census Bureau, Population Estimates Program · retrieved
    Supports: A population of 1,329,491 for Dallas on 1 July 2025, 1,245,355 of them in Dallas County, 54,266 in Collin, 29,865 in Denton, five in Rockwall and none in Kaufman, 3,638 in Cockrell Hill, 8,764 in Highland Park and 25,323 in University Park
  26. 2025 Gazetteer files: places, Texas · United States Census Bureau · retrieved
    Supports: A land area of 339.685 square miles and a water area of 43.966 square miles for Dallas city

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.