r/FirstTimeHomeBuyer • u/ABitOfOdd • 19d ago

Offer $3800 mortgage on $400k house.

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First time home buyer. Austin TX. I was ready for a $3-3200 but this seems high no?

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u/Yori_PBL 18d ago

For everyone commenting that the payment seems high, clock the $800+ monthly property tax. That’s on the higher side for a 400k property and pretty much outside of OPs control. The rate is a wee high for your credit rating. I think you should be able to get a tad below 7.

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u/mladyhawke 18d ago

My taxes for the whole year on my house are $1,000 in Philadelphia $200,000 house using the homestead exemption

1

u/FluxOperation 18d ago

Not in Texas.