Usually, text is a smooth, solid color, which makes it easy to select with the good old-fashioned Magic Wand tool. Alternatively, marquee select (keep the boundary as close to the text as you can) will get you something.
Select > Modify > Expand and add a few pixels to the selection. How much depends on your image, but it doesn't need to be more than 5 pixels, even for a high-resolution image.
Once you have your "slightly larger than the text" selection, Shift-F5 or
Edit > Fill... and choose
Content-Aware Fill. This will fill the area with bits of surrounding content, for an excellent "rough view" of what it might look like without the text.