Lubbock Mortgage Calculator
Estimate your monthly mortgage payment in Lubbock, TX. On the local median home value of $205,000 — with a 20% down payment at today's rates — expect a total monthly payment (principal, interest, taxes, and insurance) of about $1,519. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$1,037
- Property Tax$308
- Home Insurance$175
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $12,439 | $1,833 | $10,606 | $162,167 |
| 2 | $12,439 | $1,956 | $10,483 | $160,211 |
| 3 | $12,439 | $2,087 | $10,352 | $158,124 |
| 4 | $12,439 | $2,227 | $10,213 | $155,898 |
| 5 | $12,439 | $2,376 | $10,063 | $153,522 |
| 6 | $12,439 | $2,535 | $9,904 | $150,987 |
| 7 | $12,439 | $2,705 | $9,735 | $148,283 |
| 8 | $12,439 | $2,886 | $9,553 | $145,397 |
| 9 | $12,439 | $3,079 | $9,360 | $142,318 |
| 10 | $12,439 | $3,285 | $9,154 | $139,033 |
| 11 | $12,439 | $3,505 | $8,934 | $135,528 |
| 12 | $12,439 | $3,740 | $8,699 | $131,788 |
| 13 | $12,439 | $3,990 | $8,449 | $127,797 |
| 14 | $12,439 | $4,258 | $8,181 | $123,540 |
| 15 | $12,439 | $4,543 | $7,896 | $118,997 |
| 16 | $12,439 | $4,847 | $7,592 | $114,150 |
| 17 | $12,439 | $5,172 | $7,267 | $108,978 |
| 18 | $12,439 | $5,518 | $6,921 | $103,460 |
| 19 | $12,439 | $5,888 | $6,552 | $97,573 |
| 20 | $12,439 | $6,282 | $6,157 | $91,291 |
| 21 | $12,439 | $6,703 | $5,737 | $84,589 |
| 22 | $12,439 | $7,151 | $5,288 | $77,437 |
| 23 | $12,439 | $7,630 | $4,809 | $69,807 |
| 24 | $12,439 | $8,141 | $4,298 | $61,665 |
| 25 | $12,439 | $8,687 | $3,752 | $52,979 |
| 26 | $12,439 | $9,268 | $3,171 | $43,710 |
| 27 | $12,439 | $9,889 | $2,550 | $33,821 |
| 28 | $12,439 | $10,551 | $1,888 | $23,270 |
| 29 | $12,439 | $11,258 | $1,181 | $12,012 |
| 30 | $12,439 | $12,012 | $427 | $0 |
Swipe the table sideways to see all columns →
How to use this calculator
The Home Price field is pre-filled with the median home value in Lubbock (about $205,000). Override with your target home's actual price to get a payment estimate for that specific property.
The Property Tax Rate is pre-filled with Texas's average effective rate of 1.80%. Within Texas, rates vary by county — if you know your specific local rate, override it for a more precise estimate.
Adjust the Down Payment slider to see how your payment changes. Below 20% down triggers PMI; the calculator adds it automatically and shows a warning.
Scroll down for the full PITI breakdown, monthly payment pie chart, and complete month-by-month amortization schedule.
How it works
Buying a median-priced home in Lubbock. At $205,000 with a 20% down payment, you'd bring $41,000 to closing (plus closing costs) and take out a $164,000 mortgage. At a 6.50% interest rate on a 30-year fixed loan, your monthly principal + interest is roughly $1,037.
Annual costs on top of the loan. Texas's average property tax rate is 1.80%, so a median-priced Lubbock home generates approximately $3,690 in annual property tax (about $308/mo when paid through escrow). Homeowner's insurance in Texas averages around $2,100/year.
Total monthly payment (PITI) on the median Lubbock home works out to about $1,519 per month at current rates, assuming a 20% down payment and no HOA. If you're putting less than 20% down, add PMI to this — typically 0.5–1.5% of the loan balance per year.
Rates change; this is the math, not the offer. Mortgage rates fluctuate daily. Our default of 6.50% is a recent conventional 30-year benchmark — enter today's quoted rate from your lender for the most accurate payment estimate.
Frequently Asked Questions
Looking for a different city? Browse all cities. For Texas-specific property taxes, see the Texas Property Tax Calculator.