Texas First-Time Homebuyer Calculator
First-time homebuyer costs in Texas: $10,850 FHA down payment, $7,750 closing costs, 1.8% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Texas. Includes down payment, closing costs (2.5%), PMI (required below 20% down), property tax (1.8%), and homeowners insurance ($3,600/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Texas homebuyer facts: Median price $310,000 | 20% down = $62,000 | FHA 3.5% down = $10,850 | Closing costs ~$7,750 | Property tax 1.8% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Texas?
For Texas's median home ($310,000): FHA minimum down payment is $10,850 (3.5%), plus $7,750 in closing costs. Total minimum: ~$18,600. With 20% down to avoid PMI: ~$69,750.
What are closing costs in Texas?
Texas closing costs average 2.5% of the home price, or about $7,750 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0%.
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