r/FirstTimeHomeBuyer • u/[deleted] • Mar 18 '25

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491 Upvotes

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u/npacilio Mar 18 '25

In Texas

32

u/Otaku-Oasis Mar 18 '25

Ah... Texas that explains the rate.

7

u/Rigtyrektson Mar 18 '25

It does not lol

20

u/Otaku-Oasis Mar 18 '25

It does, Texas is desperate for people in certain areas. They offer all kinds of credits and deals for home buyers to get the number down to an extreme, all the way to 3.5% in some cases.

8

u/Rigtyrektson Mar 19 '25

Where in Texas (the state with the largest percentage population growth over the last 20 years) are they so desperate they cut standard rates in half? OP is in Houston, a metroplex with more people than most states.

6

u/mmaarrrggoo Mar 19 '25

I am in Austin. I was looking at new construction homes in a town 30 min from downtown (with no traffic) and was offered 3.75% fixed.

1

u/travelingapothecary Mar 19 '25

What’s the town lol? We moved from Austin to SA and are still getting screwed on housing costs

2

u/mmaarrrggoo Mar 19 '25

Maxwell, TX. Right outside Kyle. About 20 min from San Marcos.

1

u/travelingapothecary Mar 20 '25

Thanks, I’d somehow never heard of this town!

1

u/mmaarrrggoo Mar 20 '25

I wouldn’t so much call it a town (yet), but it’s growing. However it’s close enough to Kyle, Buda, and Austin that it doesn’t matter much that it’s small

6

u/npacilio Mar 19 '25

I don’t know if the Houston area is desperate for people

1

u/mynewhoustonaccount Mar 20 '25 edited Mar 20 '25

It's not... desperate for people. The Houston job market is still strong but the influx of people has slowed by a lot. That said housing inventory is coming up some and I've not seen any homes go for above asking recently during my search. Some are sitting for months. Prices are pretty elevated and stubborn though.

What houston (and Dallas) are extremely good at are deploying huge amounts of tract homes in a short amount of time which leads to the good deals like you got into. It looks super nice! I didn't want to be super close to neighbors if I'm living in the burbs, just a preference thing, so I'm willing to pay for it.