How To Get A Mortgage In San Antonio

How to Get a Mortgage In San Antonio

If you are planning on moving to San Antonio, it’s important to understand the area and the financial requirements for getting a mortgage in San Antonio.

Whether you’re a first time home buyer or you’re purchasing a second vacation home in this beautiful Texas city, here’s what you need to know about taking on a mortgage loan in San Antonio.

San Antonio Living

There’s lots to do when you live in San Antonio.

In this colonial Texas city, the River Walk is the highlight. Shops and cafés line the streets, and the Tower of the Americas is a hotspot for tourists. San Antonio is also home to the famous Alamo Museum, where Texas fought for their independence from Mexico.

As of October 2020, the median sale price for a San Antonio home is $240,000, and the housing market is slightly competitive.

If you want to purchase a home in San Antonio, searching for “mortgage companies near me” or “mortgage companies near San Antonio” can help you find the lender that’s best for you.

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Reef Merhi

NMLS 878539 | Branch Manager | Sr. Loan Officer

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Scott Foster

NMLS 1591277 Operations Manager | Sr. Loan Officer

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Claudia Seybold

Executive Administrative Assistant | Coordinator

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Claudia Seybold

Executive Administrative Assistant | Coordinator

Claudia, a fifth-generation Texan and resident of The Woodlands since 2004, has been a dedicated professional in the Texas real estate industry since 2001. Throughout her career, she has played a pivotal role in successfully closing a diverse array of transactions, consistently delivering contracts that meet specified agreements and conditions.

Currently, Claudia is with Texas United Mortgage, where she serves as an executive assistant, working closely with Reef and the team to ensure that all deadlines are met and expectations are consistently exceeded. Her responsibilities include managing schedules, coordinating communication, preparing reports, organizing meetings, and handling a variety of administrative tasks essential to the team's smooth operation. Claudia's attention to detail and proactive approach contribute significantly to the team's success. In addition to her role at Texas United Mortgage, Claudia continues to practice as a Texas Realtor, further showcasing her commitment to the real estate industry.

Outside of her professional life, Claudia values time with her husband, Travis, and sons, Ethan and James Roy. She is an active member of Faith Bible Church, where she is passionate about serving the community. In her leisure time, Claudia enjoys RVing with her family, exploring the outdoors, and maintaining an active lifestyle through regular workouts.

Richard Haskell

NML 347730 | Sr. Loan Officer | Manager

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Joy McClellan

Sr. Loan Processor

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Nichole Walker

NMLS 2114509 | Loan Officer

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David Webber

Loan Officer

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How to Get a Mortgage in San Antonio

You must be financially prepared to apply for a mortgage in San Antonio.

It’s important to lower your debt, boost your credit score, and do your research before you begin meeting with lenders. You must also understand which type of mortgage is best for your financial status, and you have to stay within your budget.

To apply for a mortgage in San Antonio, you will have to prove your eligibility to your lender.

They will ask you to verify your income, employment status, and identity. Also, you will be required to provide your driver’s license, tax returns, social security number, and bank account statements to your lender.

Once you have been approved, you will be able to purchase a home with the mortgage amount you have been approved for. Loan limits vary depending on your income and the type of loan you apply for.

Low debt, great credit, and a stable income are the keys to getting approved for a home loan in San Antonio.

How to Get Pre-Approved for a Mortgage in San Antonio

Getting pre-approved for a mortgage is one of the most critical steps in the home buying process. Once you have a letter of pre-approval in your hand, sellers will see you as a qualified, serious buyer.

This makes shopping for homes in San Antonio much easier. In a market that’s competitive, having a letter of pre-approval from your lender is your golden ticket to home ownership.

Getting pre-approved isn’t much different than applying for the mortgage. You will meet with your lender and provide all the same documentation. While you may be tempted to skip this step, it’s well worth the time and effort spent because sellers will take you seriously.

Your Houston Mortgage Lenders

Long Experience

With over 30 years of experience, we’ve seen it all. Through ups and downs, economic crises and last minute loan technicalities, we know how to make home buying in Houston pain free.

Lower costs

We’re all about your bottom line. We work to find the best and lowest rates for you, and tailor the mortgage product to fit your budget. We’re a McKinney mortgage company that cares.

On time closing

Getting the paperwork and mortgage approvals can feel like a headache. We make sure the process go fast and smooth and ensure you’ll close on time.

Choose the San Antonio Mortgage That’s Best for You

Before you apply for the mortgage or go to get pre-approved, it’s important to know about the different types of mortgages and how they can work for you.

While traditional mortgages are the most common, there are a few government-backed home loans that can help you become a homeowner if you have low income or low credit.

Traditional Mortgages

Traditional mortgages, also known as conventional loans, offer lower rates, fees, and insurance premiums. If you qualify for this type of home loan, it’s the most economical way to purchase a home.

To qualify, you’ll need a credit score of at least 620 and a debt-to-income ratio of less than 36%. Borrowers with great credit, high income, and low debt should apply for this type of mortgage.

FHA Loans

Federal Housing Agency Loans are backed by the government and are designed to help low-income households purchase homes.

To qualify for an FHA loan, you must be a first-time homebuyer. You must have a credit score of at least 580, and you have to put at least 3.5% down. You can qualify for an FHA loan with a 500 credit score, but you will be required to put more down.

You are also required to purchase MIP on an FHA loan.

How To Get A Mortgage In San Antonio