Texas Mortgage Calculator

What can I afford?

The information below will allow you to calculate how much you can afford to spend on a home. Keep in mind that many additional factors play a part in the loan qualification process. We recommend that you use the worksheets provided to assess your financial situation when using the affordability calculator.

Estimate a Mortgage Interest Rate

The purpose of this mortgage calculator is to show you the effects of your credit score on the interest rates offered for a mortgage loan. The better the credit score, the lower the interest rate.

Select from the credit score ranges below to estimate your mortgage interest rate.


  • This tool is for informational purposes only.
  • Rates for conventional loans and government loans (i.e. FHA, VA, or USDA) may vary.  
  • Programs providing down payment assistance may have different interest rates than those shown in the table below.

Credit Range Anticipated Interest Rate Mortgage Type
760 - 850 3.654 % 30 yr. Conv.
700 - 759 3.876 % 30 yr. Conv.
680 - 699 4.053 % 30 yr. Conv.
660 - 679 4.267 % 30 yr. Conv.
640 - 659 4.697 % 30 yr. Conv.
620 - 639 5.243 % 30 yr. Conv.
620 - 850 3.929 % 30 yr. FHA

Estimate a Downpayment

3.5% (Minimum required on FHA loans)
20% (Minimum required to avoid Private Mortgage Insurance with conventional loans)
please specify dollar amount $

Gross Monthly Income

Monthly income before taxes. No pennies, no commas.

Monthly Debt Payments

Credit cards, auto loans, etc. But not utiliites, food, etc.
$ or use the DEBT WORKSHEET

Affordable Amounts

$ -0- Maximum purchase price.
$ -0- Maximum mortgage amount.
$ -0- Monthly principal & interest.
$ -0- Estimated monthly taxes and insurance.
$ -0- Estimated monthly payment (Total of principal, interest, taxes, and insurance.)
Disclaimer: The source for the information above is Informa Research Services, Calabasas, CA. Although the information has been obtained from the various financial institutions, the accuracy cannot be guaranteed. The provided calculations are based upon formulas that are commonly used by lenders for conventional mortgage loans with a thirty year term. This worksheet is only a guide. Contact a mortgage lender or real estate agent for a thorough analysis of your specific situation.