FHA Loan Calculator (Texas 2026)
Estimate your FHA loan payment with Texas 2026 conforming limits and current MIP rates.
Interactive FHA Loan Calculator (Texas 2026)
Result
Use this free FHA loan calculator to estimate your monthly payment with Texas-specific 2026 conforming limits and current MIP rates. Includes Texas property tax and comparisons to conventional financing.
How to use this FHA loan calculator
Enter the home price, down payment, FHA mortgage rate, and term. The calculator returns the monthly P&I, MIP, Texas property tax, and total housing cost. Open the advanced settings to specify county tier, MIP rates, and HOA dues.
Worked example: $350,000 Texas home, 3.5% down
A first-time buyer in Dallas (standard county) purchasing a $350,000 home with 3.5% down ($12,250) at 6.5% FHA rate over 30 years:
- Loan amount: $343,000 (after 1.75% upfront MIP rolled in)
- Monthly P&I: $2,170
- Monthly MIP: $157 (annual MIP divided by 12)
- Texas property tax: $642/month (2.2% annual)
- Home insurance: $167/month
- Total monthly housing: $3,136
With 5% down instead ($17,500), the loan is slightly smaller but you’d still owe MIP for the full loan term because LTV exceeds 90%. To eliminate MIP at 11 years, the down payment would need to bring LTV to 90% or below — meaning at least 10% down.
FHA vs. conventional comparison
For the same $350,000 home:
FHA (3.5% down, MIP):
- Loan: $343,000
- Monthly P&I: $2,170
- Monthly MIP: $157
- Total monthly (PITI + MIP): $3,136
- Total MIP over 30 years: $56,520
Conventional (5% down, PMI):
- Loan: $332,500
- Monthly P&I: $2,103
- Monthly PMI: $166 (until 78% LTV)
- Total monthly (PITI + PMI): $3,078 initially
- PMI cancels around year 8 when LTV hits 78%
Conventional wins on monthly cost after PMI cancellation, saving roughly $56,000 over the FHA loan term. The trade-off is the 5% down ($17,500 vs. $12,250) versus saving $56K long-term.
Texas-specific considerations
Texas property tax is among the highest in the US, averaging about 2.2% of home value annually. On a $350K home, that’s $7,700/year or $642/month — a substantial component of PITI that buyers in other states don’t face at the same magnitude.
Texas homestead exemption caps property tax increases at 10% per year for primary residences. This provides significant protection for long-term owners as market values rise.
Texas down payment assistance: My First Texas Home and TSAHC programs offer 3-5% down payment assistance as grants or 0% second liens. Combined with FHA’s 3.5% requirement, buyers can often purchase with very low out-of-pocket costs.
When FHA makes sense vs. conventional
FHA wins when:
- Down payment is below 5%
- Credit score is below 720
- Gift funds or DPA are available
- First-time buyer programs are accessible
Conventional wins when:
- Down payment is 5% or more
- Credit score is 720+
- You want to avoid permanent mortgage insurance
- You can reach 20% down within a few years
Tips for FHA borrowers in Texas
- Check your county’s conforming limit. Travis, Williamson, and Hays counties have higher limits — useful for Austin-area buyers.
- Ask about DPA programs. Texas has multiple state and local assistance programs that can reduce your out-of-pocket cost to under $1,000.
- Roll upfront MIP into the loan. It’s standard and avoids the cash drain at closing.
- Consider the lifetime MIP cost. If you plan to stay in the home less than 7-10 years, FHA MIP rolls into the total cost without the offsetting benefit of cancellation.
- Get multiple lender quotes. FHA rates vary by lender; the same loan can cost $50-100/month more or less depending on the lender.
Common mistakes
- Underestimating property tax. Texas’s 2%+ property tax rates catch out-of-state buyers who budget for typical national averages.
- Skipping the upfront MIP calculation. It gets rolled into the loan but adds about 1.75% to the financed amount.
- Choosing FHA out of habit. Buyers with 720+ credit and 5%+ down often pay less overall with conventional financing.
- Missing DPA eligibility. Many Texas buyers pay full down payment out of pocket when they could have qualified for state or local grants.
Related Tools
- Mortgage Calculator – General mortgage payment calculator with PITI breakdown.
- Loan Calculator – Calculate payments for any fixed-rate loan.
- Net Worth Calculator – Figure out how much to put down based on savings and target payment.
- Mortgage Calculator – Side-by-side comparison of total cost.
- Amortization Calculator – Estimate closing costs for Texas home purchases.
| County tier | Standard limit | High-cost limit | Example counties | Notes |
|---|---|---|---|---|
| Most Texas counties | $524,225 | — | Dallas, Harris, Travis, Bexar | Baseline conforming limit |
| High-cost metros | $524,225- $1,209,750 | $1,209,750 | Travis, Williamson, Hays, some Harris | Higher limits for expensive areas |
| Low-cost counties | $524,225 | — | Rural and West Texas | Floor limit applies |
Compare your options
Two methods, three minutes. The honest trade-off table.
This FHA loan calculator
- + Texas-specific 2026 conforming limits.
- + FHA MIP (mortgage insurance premium) modeled accurately.
- + Comparison vs. conventional financing.
- − Does not factor in lender-specific overlays.
Rocket Mortgage / Better.com
- + Live FHA rates from multiple lenders.
- + Real-time qualification pre-approval.
- − Lead-generation with intensive marketing follow-up.
- − Texas-specific limits may not be highlighted.
Bankrate FHA calculator
- + Multiple lender rate comparison.
- + Detailed MIP and PMI explanation.
- − Ad-heavy with extensive upsells.
- − Outdated conforming limits in some cases.
Who actually uses FHA Loan Calculator (Texas 2026)?
Five concrete situations pulled from real sessions, with the exact inputs people paste in.
Know what they can afford on an FHA loan.
Enter the home price, down payment (3.5% minimum), and current FHA rate. The calculator returns the monthly P&I plus MIP, Texas property tax estimate, and total housing cost.
Compare FHA vs. conventional for their situation.
Run the calculator for FHA (3.5% down, MIP) and conventional (5-20% down, PMI). The comparison shows which financing is cheaper monthly and over the loan term.
Combine purchase and renovation into one loan.
Add renovation costs to the base loan amount. The calculator applies FHA terms to the combined figure, with the renovation portion in a separate draw schedule.
Know the actual out-of-pocket cost.
Factor in a Texas down payment assistance grant or second lien. The calculator shows the net down payment needed and how the second lien affects monthly payment.
See the FHA payment with the loan amount they actually qualify for.
Use the maximum loan amount the lender approves (based on bank statements, not tax returns). The calculator shows the monthly cost of that loan amount.
An FHA loan calculator built for Texas buyers with 2026 conforming limits and current MIP rates
Texas has unique FHA conforming limits and a wide range of down payment assistance programs. This tool applies the 2026 limits, current MIP rates, and Texas property taxes to give you a realistic monthly payment. Run FHA and conventional scenarios side-by-side to find the cheaper path to your first Texas home.
2026 conforming limits and Texas property tax
County-specific conforming limits and Texas's relatively high property tax rates are factored into the calculation. The monthly figure includes the full PITI + MIP, not just P&I.
Upfront and annual MIP correctly applied
Upfront MIP (1.75%) is rolled into the loan balance. Annual MIP (0.50-0.75%) is divided across monthly payments. The calculator handles both correctly rather than skipping one or the other.
FHA vs. conventional side-by-side
Run the same home price under FHA (3.5% down, MIP) and conventional (5-20% down, PMI). The calculator shows monthly payment, total cost over 30 years, and break-even.
No signup, no lead generation
Run scenarios freely without your information being shared with lenders. Use the output to inform conversations with lenders on your terms.
What you only get here: an FHA loan calculator with Texas-specific 2026 conforming limits and current MIP rates — without a lender's lead-generation follow-up call.