In fact it's a rather lovely LTV rate for the lending institution, very secure for them.For a primary residence I wouldn't monkey around with the value play too much. 

Here is a cool link that allows you to play around with your mortgage rate.  

Track down an engineer that is familiar with the area, play detective kinda fun.

There are opportunities, if you can play at that level.Less expensively, you can look at Danbury, CT; Albany, NY; Dutchess county; northern Westchester.I'm also considering the Berkshires and Eastern CT.

I know this is dead post however I am surprised by the reply.  

Mortgage payment on the more expensive property would be ~740/mo, on the cheaper one ~460+75, or ~535, though that doesn't matter as much -- where it comes into play is "what are the financials of the HOA like?"

Being that you are dead center between Del Rio and San Antonio you may consider looking into both markets.Newbie advice:-Read read read.

Then you play the follow-up game!

You'll need to know the costs and time frame for receiving permits, which would play in to step 4. 

I sound like every Newb here on BiggerPockets but I'm dead serious about taking what I've been learning to the next level.