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• Mortgage rates in San Antonio are influenced by economic conditions and your personal financial status.
• Fixed-rate mortgages provide you with stable, predictable payments.
• First-time homebuyers can take advantage of state and federal assistance programs.
• Knowing the lay of the land in terms of San Antonio’s cost of living is a smart move for your budget.
• Compare offers from various lenders to secure the best mortgage rates.
Introduction to San Antonio Mortgage Interest Rates
For first-time homebuyers in San Antonio, Texas, a grasp of mortgage rates is key. This guide is your ticket to knowing how to snag the best home loan for your unique situation. It delves into the economic indicators you should understand, especially if you’re buying your first home, as well as the borrower-specific factors that sway interest rates.
Mortgage interest rates are the fees charged by lenders for borrowing money to purchase a home. These mortgage rates are determined by a complex combination of factors that can be separated into two buckets: the state of the economy and the borrower’s financial status.
Where Mortgage Rates Come From
The mortgage rate a lender offers you is the result of a complex interplay between economic indicators and your personal financial situation. The bond market, particularly the 10-year U.S. Treasury note yield, is a strong predictor of which way rates might move. But the performance of the housing market, broader trends in inflation and unemployment, and the overall state of the economy also play a role. For example, when inflation is on the rise and the economy is strong, you can expect to see higher mortgage rates in Texas. Understanding these factors can help you time your home purchase effectively and make informed decisions.
A lender will also be looking at your personal data, including the following:
• Credit score: The higher the score, the lower the rate you’ll likely obtain.
• Down payment: Making a larger down payment can result in a lower interest rate because lenders perceive a lower default risk.
• Debt-to-income (DTI) ratio: In general, mortgage lenders like to see a DTI ratio of no more than 36%, though that is not necessarily the maximum.
See how your debt level may affect your mortgage
Use SoFi’s debt-to-income calculator to determine your personal DTI number.
See how your debt level may affect your mortgage
Use SoFi’s debt-to-income calculator to determine your personal DTI number..
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Mortgage rates can have a huge impact on how much you end up paying for your property. For example, if you take out a $300,000, 30-year loan at 6.50% interest, you’ll be looking at a monthly payment of $1,896. But if the rate jumps to 7.00%, that payment goes up to $1,996. Over 30 years, that 0.50% rate increase could cost you nearly $36,000 in interest.
See more examples of how rate and term affect total cost for a $300,000 mortgage below.
Interest Rate
Loan Term
Monthly Payment
Total Interest
6.00%
30-year
$1,799
$347,515
6.00%
15-year
$2,532
$155,683
7.00%
30-year
$1,996
$418,527
7.00%
15-year
$2,697
$185,367
San Antonio, Texas, Mortgage Rate Trends
Historical US Mortgage Rates
Looking back at historical mortgage rates can provide some context on current mortgage rates. Even though mortgage rates in San Antonio, Texas, have risen since the historic lows of 2021, they’re still much lower than they were at their highest, as shown by the graph of more than half a century of rates.
Types of Mortgages Available in San Antonio, Texas
The type of mortgage loan you opt for in San Antonio will have an impact on your interest rate and thus on your overall costs. These are some of the more common options available to borrowers. Conventional loans (those not backed by the government) generally require a credit score of 620 or higher. Government-backed loans may offer more flexibility.
Fixed-Rate Mortgage
Fixed-rate mortgages are a popular option in San Antonio. They offer the advantage of a consistent interest rate over the life of the loan, which means that your monthly payments will remain the same for 10, 15, 20, 30, or 40 years. You can choose the option that best fits your financial goals and timeline. The shorter the term, the higher the monthly payment will be, but the less interest you’ll pay over the long haul.
Adjustable-Rate Mortgage (ARM)
Adjustable-rate mortgages (ARMs) often start with a low introductory rate, which can be a plus if you’re thinking of selling before the introductory period ends. Homeowners have a 1-10 year stretch with a rate that doesn’t budge, followed by potential yearly adjustments based on the market. It’s a bit of a gamble, as you could end up with higher payments if rates climb. If you’re considering an ARM in San Antonio, run the numbers to see how future rate hikes might change your monthly payments.
FHA Loan
Loans backed by the Federal Housing Administration (FHA) open doors with their more flexible eligibility criteria. A minimum credit score of 580 is usually all it takes if you want to make a low 3.5% down payment, which is fantastic news for those looking to purchase their first home. And even those with lower credit scores can purchase if they make a 10% down payment. FHA loans are a beacon of hope for those with limited savings or a less-than-perfect credit history.
VA Loan
VA loans are a great option for eligible active-duty military members, veterans, reservists, National Guard members, and surviving spouses. One of the most significant benefits of a VA loan is that it typically does not require a down payment, making it easier to become a homeowner. Additionally, VA loans often have lower interest rates than conventional loans. The first step toward a VA loan is to obtain a certificate of eligibility. With that in hand, you can pursue getting approved for a VA loan.
Jumbo Loan
In most U.S. housing markets, and throughout Texas, conventional mortgage loans are capped at $832,750 for a single-family home. But what if you need a mortgage that exceeds this limit? That’s where jumbo loans come in. They’re tailored for these larger investments, albeit with higher interest rates and more stringent qualification criteria, such as a heftier down payment and an excellent credit score. If you’re in San Antonio, Texas, and the allure of a grander home is calling, a jumbo loan could be your answer.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Should You Wait for Interest Rates to Take a Tumble?
Many homebuyers in San Antonio are wondering if they should wait for interest rates to drop before making a purchase. As of August 2026, the average mortgage interest rate is expected to stay in the mid-6.00% range throughout 2026. And while minor dips happen, rates won’t fall back into the 5.00% range anytime soon. So for many buyers, it may not make sense to wait, especially if they are relocating, need to leave a rental apartment, or want space for a growing family. Remember that if you buy now, you can always explore the option of a mortgage refinance if rates decline down the line.
San Antonio’s cost of living is fairly affordable, which is good news for those who are trying to squeeze a new home into their monthly budget. Housing, especially, is not overpriced here as compared to the cost of living in the U.S. as a whole. Over the three months ending July 2026, the median home sale price in San Antonio was $268,000, a drop of 2.2% compared to the same period last year, according to Redfin.
The chart below shows how the cost of living in San Antonio stacks up against other Texas metropolitan areas on a scale where 100 equals the U.S. average.
Texas City
Cost of Living
Abilene
88.3
Amarillo
81.7
Arlington
97.5
Austin
95.7
Beaumont
92.0
Conroe
88.4
Corpus Christi
86.6
Dallas
98.5
Denton
96.1
El Paso
87.4
Fort Worth
96.0
Harlingen
79.8
Houston
93.0
Longview
92.5
Lubbock
93.3
McAllen
81.0
Midland
96
Nacogdoches
89.7
Odessa
92.23.0
Plano
108.6
San Antonio
91.3
Temple
86.8
Tyler
92.7
Waco
90.3
Get Your Best Possible Rate in San Antonio, Texas
To secure a good mortgage rate in San Antonio, focus first on your credit score. Make payments on time, and have a look at your credit report to ensure there are no errors. You should also try to lower your DTI ratio, particularly if it is above 36%. Increase your down payment if possible to reduce the loan amount and potentially shave a bit off the interest rate you’ll be offered. Going through the mortgage preapproval process with a lender can help you lock in a budget because it will show you exactly how much the lender feels you are qualified to borrow. Explore different types of mortgages, such as fixed-rate and government-backed loans.
Helpful Tools and Calculators
Online calculators can help you determine what price of house you can afford and see how different down payment amounts and mortgage rates affect your spend. Here are three you can try.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
How to Evaluate Loan Offers in San Antonio
Given that even a half a percentage point can add up to substantial dollars in your pocket over the loan’s lifetime. It’s a smart move to compare interest rates and fees from various lenders before making a decision about a home loan. Don’t just look at interest figures, but also consider each loan’s annual percentage rate (APR), which is a more accurate picture of total cost. Once you’ve found an offer that fits, consider paying a fee to the lender to lock in your rate for up to 90 days.
Down payment assistance programs and other government-sponsored homebuyer assistance can make all the difference when it comes to affording a home in San Antonio. This is especially true for those who qualify as a first-time homebuyer. The Texas Department of Housing and Community Affairs (TDHCA) and the Texas State Affordable Housing Corporation are just two of the organizations offering support. The My First Texas Home and My Choice Texas Home programs, both from TDHCA, provide 30-year, low-interest mortgages and up to 5% in down payment assistance. By tapping into resources such as these, homebuyers could significantly reduce the financial load of purchasing a home in San Antonio.
Closing Costs in San Antonio
For those purchasing a home in San Antonio, Texas, closing costs typically range from 2%-5% of the loan value. Several factors play into the final tally, including property value and location. These costs often encompass loan origination, appraisal, and title insurance fees.
The Takeaway
San Antonio’s mortgage landscape is as varied as the city itself, offering plenty of options for those looking to make a home in the area. By keeping an eye on the current mortgage rates in San Antonio and taking the time to explore the various assistance programs available, you can make the mortgage decision that will best serve your financial future, whether you’re a first-time homebuyer or a seasoned pro.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Is it a good time to buy a house in San Antonio, Texas?
Deciding whether to buy a house in San Antonio depends on the housing market, available mortgage rates, and your personal needs. The cost of living in San Antonio remains relatively low, with a median home sale price around $268,000, but the market is only somewhat competitive. So if you need to buy and you can find a home you like, the next step is to get your best possible mortgage rate, and shopping around and getting offers from various lenders is a key step in this process.
How do you secure a mortgage rate?
To secure a favorable mortgage rate, start by reviewing your credit score and financial health, as a higher credit score can pave the way for better terms and lower rates. Consider making a larger down payment, which could further reduce your interest rate and even eliminate the need for private mortgage insurance. Next, shop around and compare offers from various lenders, including banks, credit unions, and online platforms, and ask your chosen lender to lock it in for a set period, up to 90 days, to guard against rate hikes during closing.
How do mortgage interest rates work?
Mortgage interest rates, expressed as a percentage, reflect the charges that lenders levy for providing a home loan. Rates can be fixed or variable, with fixed rates maintaining their steadiness over the loan’s lifetime and variable rates subject to market fluctuations. To learn how much of each month’s payment is the interest charge vs. the principal owed, a borrower can review the amortization schedule for their loan.
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SoFi Mortgages
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¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
‡Up to $9,500 cash back: HomeStory Rewards is offered by HomeStory Real Estate Services, a licensed real estate broker. HomeStory Real Estate Services is not affiliated with SoFi Bank, N.A. (SoFi). SoFi is not responsible for the program provided by HomeStory Real Estate Services. Obtaining a mortgage from SoFi is optional and not required to participate in the program offered by HomeStory Real Estate Services. The borrower may arrange for financing with any lender. Rebate amount based on home sale price, see table for details.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
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