First-Time Buyer Guide.

Typical minimum down payments vary by loan program: conventional loans start at 3% down (with private mortgage insurance), FHA at 3.5% down, and VA and USDA loans require 0% down for qualified buyers. Additionally, plan for closing costs of approximately 2-3% of the purchase price, though seller concessions can offset some or all of these costs. On a $350,000 home, expect to bring $7,000-$10,500 in closing costs on top of your down payment.

Minimum credit scores by loan program: Conventional typically requires 620+, FHA can go as low as 580 (or 500 with 10% down), VA loans have no official minimum but most lenders require 580-620, and USDA requires 640+. Higher scores get better interest rates — improving your score from 640 to 740 can save tens of thousands over the life of the loan.

From offer accepted to closing typically takes 25-35 days in San Antonio. Cash offers can close in 10-14 days. VA loans sometimes take 35-45 days due to VA appraisal requirements. The full timeline from starting the search to closing usually runs 45-90 days depending on how quickly you find the right home.

Closing costs typically run 2-3% of the purchase price for a buyer. This includes lender fees, title insurance, escrow, appraisal, credit report, prepaid property taxes and homeowners insurance, and any survey. Seller concessions negotiated during the offer can cover part or all of these costs — often 1-3% of purchase price.

Yes — and there is no cost to you as a buyer to have your own agent because the seller pays commission. A buyer's agent negotiates on your behalf, manages the option period and inspections, tracks contract deadlines, and coordinates with your lender. As a dual-licensed REALTOR® and mortgage loan officer, I can also structure your financing at the same time, which most agents cannot do.

The option period is typically 5-10 days after your offer is accepted, during which you have the unrestricted right to terminate the contract for any reason and receive your earnest money back. This is your window to complete inspections, review title work, and back out if issues arise. The option period requires a small non-refundable option fee, usually $100-$500.

Pre-qualification is a quick review of stated income and credit — it is not verified and holds little weight with sellers. Pre-approval requires the lender to pull your credit, verify income and assets, and issue a conditional commitment. In competitive San Antonio markets, you need a full pre-approval letter to be taken seriously by listing agents.

Yes — TSAHC (Texas State Affordable Housing Corporation), TDHCA (Texas Department of Housing and Community Affairs), and several San Antonio-specific programs offer down payment and closing cost assistance for qualified first-time buyers. Income limits and homebuyer education requirements apply. I match qualified buyers to the right program at pre-approval.

Yes — if you are an eligible veteran, active-duty service member, or surviving spouse. VA loans offer 0% down, no private mortgage insurance, and competitive rates. They are especially common in Schertz, Universal City, and Cibolo due to Randolph AFB proximity. I structure VA offers to compete effectively even in multi-offer situations.

Yes — home inspections are paid by the buyer, typically $400-$700 depending on square footage and any specialty inspections (pool, foundation, wood-destroying insect). Inspections are optional but strongly recommended and are almost always completed during the option period.