Cost of Buying a House in Austin: A Budget Guide
A breakdown of Austin homebuying costs using Census Bureau and CFPB figures, showing what is fixed, what varies by lender, and how to build a realistic cash-to-close and monthly budget.
Mortgage calculator
See what a home really costs each month — not just the loan, but property tax, insurance, PMI and HOA dues — and how much interest you pay over the life of the loan.
Estimated monthly payment
$2,539
on a $320,000 loan · $2,023 of it is principal & interest
- Principal & interest
- $2,023
- Property tax
- $367
- Home insurance
- $150
Total interest
$408,142
Total of 360 payments
$728,142
How the balance goes down
| After year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 5 | $20,445 | $100,912 | $299,555 |
| 10 | $48,716 | $193,998 | $271,284 |
| 15 | $87,811 | $276,260 | $232,189 |
| 20 | $141,871 | $343,557 | $178,129 |
| 25 | $216,627 | $390,159 | $103,373 |
| 30 | $320,000 | $408,142 | $0 |
How the payment is calculated
The principal-and-interest part uses the standard formula for a fixed-rate loan with equal monthly payments:
M = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P is the loan amount (price minus down payment), r is the annual rate divided by 12, and n is the number of monthly payments. Property tax, insurance and HOA dues are added on top. PMI is only added when the down payment is under 20%.
This is an estimate for planning, not a loan offer or financial advice. Your lender's Loan Estimate shows the exact figures.
