Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
El Paso mortgage calculator
A median-priced El Paso, TX home at 6.75% over 30 years, with Texas property tax of 1.63% and $3,400 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$2,223 a month, all in
Principal and interest are $1,489; escrow and PMI add the rest. Over the full term the loan costs $306,372 in interest. Discounted at 5%, buying here has a net present value of $74,537 ($258,819 in today’s dollars).
Within Texas, El Paso is the cheapest of the 10 Texas markets covered here — Austin runs about 2.07x these prices. Buyers priced out of the expensive end of the state often end up comparing exactly this pair.
El Paso is cheaper than Texas as a whole — $255,000 against a state median of $340,000, roughly 25% below. On a 20% deposit that is $17,000 less to find up front.
At $255,000 to buy and $1,530 a month to rent, the price-to-rent ratio is 13.9 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
Monthly cost in El Paso vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $255,000 |
|---|---|
| Down payment (10%) | $25,500 |
| Loan amount | $229,500 |
| Principal & interest | $1,489/mo |
| Property tax (1.63%) | $346/mo |
| Homeowners insurance | $283/mo |
| PMI while above 80% LTV | $105/mo |
| Total monthly payment | $2,223/mo |
| Comparable rent | $1,530/mo |
What a rate move does to the El Paso payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $1,303/mo |
| 6% | $1,376/mo |
| 6.5% | $1,451/mo |
| 7% | $1,527/mo |
| 7.5% | $1,605/mo |
| 8% | $1,684/mo |
Rent or buy in El Paso?
Against $1,530 a month in rent, over 7 years renting leaves you about $36,192 better off — $30,447 once 2.5% inflation is stripped out. See the Texas rent-vs-buy page.
Where these numbers come from
Texas medians come from editorial and are refreshed weekly. The El Paso figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.