Home buying guide
Buying a home in Texas
Texas's effective property-tax rate is about 1.245%, above the U.S. average of 0.888%. It's a title/escrow state (a title or escrow company handles closing). Here's what buying here actually costs, and the steps to get the keys.
Property taxes in Texas
Texas's effective property-tax rate is about 1.245%of a home's value per year, higher than the U.S. average of 0.888%. On a $500,000 home that's roughly $6,225 a year.
Closing costs in Texas
Texas is a title/escrow state (no attorney required), and Texas has no state real-estate transfer or deed tax. On a $400,000 home, estimated closing costs run about $7,480–$10,780 on top of your down payment.
First-time buyer programs in Texas
Texas runs a housing finance agency with first-time-buyer help: down-payment assistance, below-market first mortgages, and mortgage tax credits.
How much house can you afford in Texas?
What you can afford depends on your income, debts, and down payment, not just the home price. Texas's property taxes above feed straight into the monthly payment lenders measure against your income.
Enter your numbers once and see your real affordability range, debt-to-income, and rent-vs-buy break-even for Texas:
The steps to buy a home in Texas
Home Buying Steps walks you through the whole process, from checking if you're ready to getting pre-approved to closing day, one clear step at a time, tailored to Texas where the rules differ.
See your real numbers for Texas
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