Mortgage on a $400K house in Texas
$2,793 a month with 20% down — $2,153 principal and interest plus $441 property tax and $200 insurance.
Texas's typical property tax is 1.32% of the home's value a year (U.S. average 0.9%), which adds $441 a month on a $400K home. The typical home in Texas is worth $296,424, so $400K is 35% above the typical price.
$400K home in Texas: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $641 | $2,793 | $119,700 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $641 | $3,212 | $137,700 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $641 | $3,355 | $143,800 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $641 | $3,460 | $148,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.32% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Texas does $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Wilson County | $395,462 | 1.22% | $2,760 |
| Williamson County | $394,699 | 1.61% | $2,890 |
| Somervell County | $408,550 | 0.91% | $2,656 |
| Rockwall County | $409,262 | 1.54% | $2,866 |
| Burnet County | $419,257 | 1.06% | $2,705 |
| Hood County | $379,202 | 1.05% | $2,703 |
| Austin County | $420,802 | 1.16% | $2,738 |
| Fort Bend County | $374,185 | 1.86% | $2,973 |
| Ellis County | $370,493 | 1.35% | $2,802 |
| Wise County | $370,072 | 1.14% | $2,732 |
| Comal County | $431,172 | 1.13% | $2,730 |
| Denton County | $432,421 | 1.61% | $2,891 |
229 of 243 Texas counties tracked by Zillow have a typical home value at or below $400K. See all Texas home prices.
Other prices in Texas
Frequently asked questions
What is the mortgage on a $400K house in Texas?
About $2,793 a month with 20% down at 7.11%: $2,153 principal and interest, $441 property tax and $200 insurance.
How much do I need to make to buy a $400K house in Texas?
About $119,700 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in Texas?
At Texas's typical effective rate of 1.32%, about $5,288 a year. Rates vary by county and city — see the county pages.