What a home really costs per month in DFW
Online calculators show principal and interest. In Texas that leaves out about a third of your payment. Here are real monthly numbers for three price points in three DFW suburbs, with taxes, insurance, and PMI included.
The monthly payment, all in
Example: 30-year fixed conventional loan, 5% down, 7.25% rate. Taxes use each area's 2025 combined rate before the homestead exemption.
| Price | Area | Total / mo | Principal & interest | Taxes | Insurance | PMI |
|---|---|---|---|---|---|---|
| $350k | Mansfield | $3,327 | $2,268 | $656 | $250 | $152 |
| Burleson | $3,346 | $2,268 | $676 | $250 | $152 | |
| Frisco | $3,146 | $2,268 | $476 | $250 | $152 | |
| $450k | Mansfield | $4,256 | $2,916 | $844 | $300 | $196 |
| Burleson | $4,281 | $2,916 | $869 | $300 | $196 | |
| Frisco | $4,024 | $2,916 | $612 | $300 | $196 | |
| $600k | Mansfield | $5,650 | $3,888 | $1,125 | $375 | $261 |
| Burleson | $5,683 | $3,888 | $1,158 | $375 | $261 | |
| Frisco | $5,340 | $3,888 | $815 | $375 | $261 |
Taxes: Mansfield (Mansfield ISD) 2.25%, Burleson (Burleson ISD) 2.32%, Frisco (Frisco ISD, Collin County) 1.63%. Insurance estimated at $3,000 / $3,600 / $4,500 a year. PMI at 0.55% a year. Examples only, not a quote or commitment to lend.
3 things most buyers don't realize
1. Calculators leave out 30-45% of the payment
On a $350k home, principal and interest is about $2,268 a month. The real payment is closer to $3,300 once taxes, insurance, and PMI are added. That gap is the number-one surprise for first-time buyers.
2. The same house can cost $200-$340 more per month one suburb over
Texas has no state income tax, so cities and school districts rely on property taxes, and rates vary a lot. In these examples Frisco comes in about $200 a month lower than Mansfield or Burleson on a $350k home, and about $340 lower on a $600k home, just from taxes.
3. Filing your homestead exemption saves about $120-$150 a month
Once you live in the home, file for the homestead exemption with your county appraisal district. The school district exemption is now $140,000 of value, which works out to roughly $1,400-$1,750 a year in these areas. It isn't automatic. You have to file.
Cash you'll need to close
| Price | 5% down | Closing costs (3-5% of loan) |
|---|---|---|
| $350k | $17,500 | $10,000-$16,600 |
| $450k | $22,500 | $12,800-$21,400 |
| $600k | $30,000 | $17,100-$28,500 |
Seller credits and Texas down payment assistance can lower what you bring. VA buyers can put 0% down (VA guide).
What can change your number
- MUD and PID fees. Many newer communities add these on top of the rates above. Buying new? Read the new construction guide.
- Insurance quotes. North Texas premiums vary a lot by home age, roof, and deductible. Get real quotes early.
- Down payment. 20% down removes PMI on a conventional loan. Bank statement loans have no PMI at all (details).
- Your rate. Credit score, points, and the lender all move it. See today's rates explained.
Common questions
How much is the monthly payment on a $350,000 home in DFW?
With 5% down at a 7.25% rate, roughly $3,150-$3,350 a month in Mansfield, Burleson, or Frisco once property taxes, insurance, and PMI are included. Principal and interest alone is about $2,268.
Why are property taxes so high in Texas?
Texas has no state income tax, so cities, counties, and school districts are funded largely through property taxes. Combined rates in DFW suburbs commonly run about 1.6%-2.4% of assessed value per year, before exemptions and any MUD or PID assessments.
How much does the homestead exemption save in Texas?
The school district homestead exemption is $140,000 of value, which saves roughly $1,400-$1,750 a year in Mansfield, Burleson, and Frisco. Some cities and counties offer additional exemptions. You must file with your county appraisal district after you move in.
How much are closing costs on a house in DFW?
Closing costs in Texas typically run about 3-5% of the loan amount, covering lender fees, title insurance, appraisal, and prepaid taxes and insurance. On a $450,000 home with 5% down, that's roughly $12,800-$21,400.
I'm Matthew Parra, a mortgage broker with Hometown Lending based in Mansfield, TX. I've been originating loans in DFW since 2020 and shop 50+ wholesale lenders for every client. Rated 5.0 on Google. Read my reviews →
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