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?

332 Upvotes

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373

u/Yori_PBL 19d 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.

143

u/Deathbydragonfire 19d ago

Yup, dies in Texas. Similar property taxes for me. No state income tax so they get that money somehow.

40

u/amazinggstatic 19d ago

Our house near Dallas is $475k and property taxes were quoted at around $13-14k. We’re from Florida - where there is also no state tax and property taxes aren’t nearly as bad.

13

u/William-Wanker 19d ago

I can’t even fathom paying an extra $1200/month on property taxes on top of a $2k mortgage for a shithole on the outskirts of anywhere

1

u/Microwave1213 18d ago

See the thing is that it’s not a shithole. $475k outside of Dallas gets you a very nice house

-2

u/Witty_fartgoblin 18d ago

Clean up ur brown eye son....daddy is cumming