Quick answer
The median home in Plano costs $475K. With 20% down ($95K) at 7% for 30 years, the monthly payment is $2,528/month. Total interest paid over 30 years: $530,134.
Calculator · TX · 2026
Mortgage Calculator for Plano, TX (2026)
Pre-filled with Plano's median home price of $475K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Plano Mortgage Payment Scenarios
Median home price: $475K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $23,750 | $451,250 | $3,002 | $4,056 | $629,534 |
| 10% | $47,500 | $427,500 | $2,844 | $3,842 | $596,401 |
| 20% | $95,000 | $380,000 | $2,528 | $3,416 | $530,134 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Plano
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $475K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$475K home · 20% down ($380K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Plano?
The median home price in Plano is $475K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,528. Adding estimated property taxes and insurance brings total monthly costs to approximately $3,003.
Is it cheaper to rent or buy in Plano?
A 2-bedroom rental in Plano averages $1,750/month. Buying the median $475K home with 20% down costs approximately $3,003/month (mortgage + taxes + insurance) — $1,253 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Plano?
Using the 28% housing rule, you need at least $108K–129K in annual gross income to comfortably afford the median $475K home in Plano with 20% down. You also need $95K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Plano?
TX has a state income tax rate of None. Property taxes vary by county but on a $475K home, expect $396–$792/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.