Allen Markel, REALTOR® · Texas Premier Realty

Buying

Price vs. rate

Hold your payment and move the rate: the price it carries at each rate, and what a 1% rate change is worth in price.

Today's 30-year average: 7.40% (Freddie Mac survey via FRED, week of Oct 8, 2026). Edit to your lender's quote.

Property tax: 2.25% typical in Harris County. Typical total rate for the 17,580 homes for sale in Harris County (median of their certified 2025 tax bills; most are between 2.13% and 2.51%). Add your ZIP for a closer figure.

Typical in Harris County: $81/mo (74% of homes for sale there list an HOA). Set 0 if yours has none.

Same payment, every rate

$27,610 of price per 1% of rate

Your payment on $400,000 at 7.40%
$3,842/mo
A rate 1% lower saves
$254/mo
The price cut that saves the same
$27,029

A lower price and a lower rate aren’t the same deal: a lower price also shrinks the down payment and the property tax, and it lasts for the life of the loan. A lower rate can be refinanced later; a price can’t be renegotiated after closing.

Live listings across our six counties.

Hold your $3,842 monthly payment and move the rate: the middle column is the price that payment carries, at 5% down. The right column keeps the $400,000 price and shows the payment instead. Property tax, insurance, estimated PMI and your HOA included; your rate is highlighted.
RatePrice at your paymentPayment on $400,000
5.90%$444,582$3,465/mo
6.40%$428,987$3,588/mo
6.90%$414,135$3,713/mo
7.40% (yours)$400,000$3,842/mo
7.90%$386,554$3,973/mo
8.40%$373,768$4,106/mo
8.90%$361,613$4,241/mo

We’re not a lender. Principal & interest on a 30-year fixed plus the typical 2.25% property tax for Harris County, budgetary insurance (0.55%), estimated PMI under 20% down (Freddie Mac: about $30–$70 a month per $100,000 borrowed) and your HOA. Rates you can get depend on your credit, down payment and loan type — a lender will quote yours, and we’ll introduce you below.

Talk to a lender

These are the lenders Allen works with. For any lender you’d like to talk to, tap Make introduction — we’ll make the introduction for you.

Allen Markel is a licensed Texas REALTOR®, not a mortgage lender or loan originator. He does not quote rates or terms and does not decide whether you qualify — only a lender can do that. Introductions are a courtesy; you choose who to work with.

Numbers raising questions? Walk through them with a person.

Schedule time with Allen

Questions about Price Vs Rate

What it does

  • What does the price versus rate calculator show?

    It holds your monthly payment steady and shows what price that payment carries at different interest rates. It also shows what a one percent change in rate is worth in price, and what a one percent lower rate saves per month on your price. It is a budgetary estimate.

  • Why compare price and rate at all?

    Buyers often negotiate on price, rate or both. This tool shows how the two trade off at the same monthly payment, so you can see how much a rate change is worth in price terms. That can help you decide where your effort and your cash do the most good.

The inputs

  • What do I enter to start?

    Enter the home price, your down payment, the interest rate, the county you are shopping in, and optionally a ZIP code. You can also change the HOA dues. The tool fills in a typical property tax and HOA for the county, which you can refine by adding a ZIP.

  • Why does the tool ask which county I am shopping in?

    The county sets the typical property tax rate and typical HOA dues used in the payment. The page covers six counties. Picking the right one, and adding a ZIP code, makes the payment more realistic. Taxes and HOA vary a lot by neighborhood, so check the specific home.

  • What if the home I want has no HOA?

    Set HOA dues to zero. The page suggests that when the home has none. The tool otherwise uses a typical figure for the county, so leaving it unchanged would add a cost you will not pay and make the payment look higher.

Reading the result

  • How do I read the table of rates and prices?

    The middle column shows the price your current payment carries at each rate, and the right column shows the payment you would have at each rate if the price stays the same. Your own rate is highlighted. Read across a row to compare the two views.

  • What does price per 1 percent of rate mean?

    It is how much house price a one percent rate change is worth when the monthly payment is held steady. A lower rate lets the same payment carry a higher price. It gives you a sense of how much a rate move matters compared with a price move.

  • Is a lower price the same as a lower rate?

    No. A lower price also shrinks the down payment and the property tax and lasts for the life of the loan. A lower rate can be refinanced later, but a price cannot be renegotiated after closing. They affect your finances in different ways.

  • What goes into the monthly payment on this page?

    Principal and interest on a 30-year fixed loan, a typical property tax for the county, a budgetary homeowner's insurance estimate, an estimated mortgage insurance under 20 percent down, and your HOA dues. It is built to look like a real payment, not just principal and interest.

Limits

  • Will I get the rate shown in the table?

    Not necessarily. The page says rates depend on your credit, down payment and loan type, and a lender will quote yours. The starting rate is a market average, so edit it to a real quote when you have one.

  • Where do the property tax and HOA figures come from?

    They are typical figures for the county you choose, based on homes currently for sale there. A particular home can be higher or lower, so check the listing for the actual amounts. Adding a ZIP code gives a closer property tax figure.

  • Is this a lender quote or pre-approval?

    No. We are not a lender, and the tool is a budgetary estimate. Only a lender can quote a rate and tell you whether you qualify. We can introduce you to a lender, and getting that quote early gives you a firmer starting point.

Next steps

  • What should I try with the price versus rate tool?

    Enter a real quote from a lender, then look at the rows above and below it. Try a different down payment to see how the payment changes. Then follow the link to homes for sale at your price to see what you could shop for.

  • Which should I push for first, a better price or a better rate?

    It depends on your circumstances, your cash and how long you plan to stay. A lower price lasts the whole loan, while a rate can be changed by refinancing later. The tool helps you see the trade-off. Talk to us to find the right option for you.

Using the tool

  • What does it mean to hold my payment and move the rate?

    It shows how the price you can carry changes as the rate changes, if you keep the monthly payment the same. A lower rate supports a higher price for the same payment, and a higher rate a lower price. A loan originator can tell you your actual rate.

See all questions