Most Important Tips To Use When Buying Homes San Antonio TX

buying homes San Antonio tx

Like any other big projects, a successful buying homes san antonio tx experience is all about getting every detail right from beginning to end. These helpful tips listed below can help a first time home buyer navigate through the process as well as save money and close the deal. Here are four different categories:


  1. Preparing to buy
  2. Mortgage selection
  3. Home shopping 
  4. Home purchasing


Preparing To Buy

The most important thing is that you need to start saving money to buy very early!

Here are a few different costs that you need to consider if you’re trying to save for a home:

 Down payment- the total of your down payment will depend on what kind of mortgage you want and what lender you choose. Some lenders will allow first time home buyers who have great credit to put down as little as 3% for a down payment. But even that 3% down payment can be kind of challenging to save for. For example, a 3% down payment on a $500.000 house is $15,000, so it’s best to save early and use a down payment calculator to help you decide your goal.

Closing costs– there are a bunch of expenses and fees when it comes to finalizing your mortgage, and those fees typically range from anywhere from 2% to 5% of the total loan amount. You are always welcome to ask the seller to help pay a portion of the closing costs, so that you can save on some of the expenses, such as inspections.

Move In Expenses– you’ll need to have some cash saved up for after you complete the home purchase. It’s good to set aside some extra cash for any home repairs as well as upgrades if any are needed.

Decide On How Much You Can Afford 

It’s very important that you figure out how much money you can spend on purchasing a home before you even start to look around. There are home affordability calculators online that you can use that can help you set a price that is based on your income, down payment, debt and even your credit score. 

Strengthen Your Credit

Your credit score is very important when you’re buying a home and it will determine whether you qualify for a mortgage or not.  Take these important steps to help raise your credit score to purchase a house:

  • Get a free copy of your credit report from all 3 credit bureaus and dispute and false errors that you get in the way.
  • Pay all your bills on time every month and keep your credit card bill low.
  • Don’t close your credit card, keep them open because closing them will increase the portion of available credit.
  • Always keep track of your credit score.

Explore Mortgage Options

When first buying homes san antonio tx you need to explore all your mortgage options. There are tons of mortgage options that are available for first time homebuyers and they each have varying down payment options as well as different eligibility requirements.