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First-time homebuyers in Austin face daunting financial picture

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First-time homebuyers in Austin face daunting financial picture

Only seven cities in the nation are more expensive than Austin when it comes to the first year of homeownership, according to a SmartAsset study. The personal finance website considered both upfront costs — using a 20% down payment and average closing costs — and annual recurring costs, such as a mortgage, average property taxes and homeowners insurance.