First-time homebuyers in Southeast Texas face rising flood and windstorm insurance costs

Monthly mortgage payments for homebuyers in Southeast Texas increase as flood insurance costs have risen over the last decade. This cost is part of a total monthly payment that includes principal, interest, taxes, and insurance. In coastal areas of the region, buyers must also account for windstorm coverage. Tish Cornell of CommonCents Credit Union says the debt-to-income ratio for buyers should remain under 40%.