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Buying a home is exciting, but it’s also one of the biggest financial decisions you’ll ever make. That’s why you need to be sure you understand exactly how your mortgage choice will impact your budget. The San Antonio mortgage calculator can help you evaluate how much house you can afford by giving you detailed estimates of your monthly mortgage costs and overall loan expense for different mortgages. You can also use it to quickly and easily compare the effect of changing different mortgage features in the tool. This can help you pinpoint the best fit for your financial situation. Let’s explore how this mortgage calculator works and what it can do for you.
Key Points
• The San Antonio mortgage calculator can help you estimate monthly payments, total interest, and overall loan costs for different mortgages.
• A down payment can be as low as 3%, but if it’s 20% or more, you may be able to avoid paying private mortgage insurance (PMI).
• Exploring down payment assistance programs in San Antonio could make the initial costs of buying a home more manageable.
• Improving your credit score, saving a larger down payment, and shopping around for better offers could help you secure a lower mortgage interest rate.
• A 15-year mortgage term results in higher monthly payments but lower total interest paid than a 30-year term.
San Antonio Mortgage Calculator
Calculator Definitions
• Home price: The home price is the purchase price you have agreed on with the home seller. It’s likely to be different from the listing price and from your first offer.
• Down payment: The down payment is the amount you pay upfront for your property, typically expressed as a percentage of the purchase price. Most buyers put down between 3% and 20% (a down payment of 20% or above lets you avoid PMI). Down payment assistance programs may be available to help cover the cost.
• Loan term: The loan term is the length of time you have to repay your mortgage. Most homebuyers choose a loan term of either 30 or 15 years. A 15-year term will mean higher monthly payments but cost less in total interest paid compared to a 30-year mortgage term.
• Interest rate: The interest rate is the cost of borrowing money, expressed as a percentage of the loan amount. A lower interest rate can significantly reduce your monthly payments and the total cost of the loan.
• Annual property tax: The annual property tax is levied by the local government on land and the buildings on it. It’s typically expressed as a percentage of the property’s assessed value. In San Antonio, property tax averages 1.876% as of late 2025 but can vary. To find your current tax obligation, search online for your ZIP code or city and “effective property tax rate.”
• Total monthly payment: Your total monthly payment is the amount that you pay your lender each month. It includes your mortgage principal, interest, and (if you input your property tax rate in the calculator) property tax.
• Total interest paid: The total interest paid is the sum of all the interest you will pay over the life of your home loan.
• Total loan cost: The total loan cost is the complete amount you will repay for your mortgage, including both principal and the total interest paid.
How to Use the San Antonio Mortgage Calculator
This free online tool is simple to use. Follow the step-by-step instructions below to give it a try.
Step 1: Enter Your Home Price
Input the purchase price that you and the seller agree you will pay for the property.
Step 2: Select a Down Payment Amount
Choose the percentage of the home price that you plan to pay in a lump sum upfront. A down payment calculator can help you determine what will make sense for you.
Step 3: Choose a Loan Term
Select the length of time you’ll take to repay your mortgage.
Step 4: Enter an Interest Rate
Input the interest rate for your mortgage to the second or third decimal point — for example, 6.775%. If you’re thinking about a particularly expensive property, you might want to look at interest rates available specifically for a jumbo loan.
Step 5: Enter Your Home’s Annual Property Tax
Input the tax as the percentage of the home’s value, not the dollar amount. For instance, if your property tax rate is 1.876%, you’ll enter 1.876.
Benefits of Using a Mortgage Payment Calculator
As you prepare to buy a home, a mortgage calculator is a necessity. All you need to do is enter a few basic facts about a mortgage in the San Antonio mortgage calculator, and it will immediately give you an estimate of the monthly cost of that mortgage as well as its total costs over its lifetime.
You can also change different features of the loan — like the interest rate or the loan term, for instance — to understand what the financial impact would be, making it easier to compare mortgages and evaluate what terms would be best for you. A mortgage calculator can help you make informed financial decisions so that your mortgage fits comfortably within your budget, now and in years to come.
Remember that the San Antonio mortgage calculator is meant to be used with fixed-rate mortgages. However, if you’re interested in a type of mortgage loan that has a variable interest rate, you can still use this calculator to estimate costs. Just note that the results will be less precise due to the fluctuations of variable rates.
Deciding How Much House You Can Afford in San Antonio
In San Antonio, the median home sale price as of late 2025 is about $265,000, according to Redfin. If you purchase a home at that price, putting down 20% and financing the remainder with a 30-year fixed-rate mortgage at 7.00% interest, your monthly payment (for principal and interest only) would be approximately $1,410.
Lenders typically suggest that to ensure affordability, your housing costs should not exceed 28% of your gross monthly income, and your total debt should be 36% or less. In the above scenario, this means you’d need to make at least $60,430 annually. This would leave you no more than about $403 per month to spend on other debts, which might include student loans, credit card payments, and car payments, among other possibilities. If you have a large debt load, you might need a higher annual income to afford this mortgage.
You can also use a home affordability calculator to get an estimate of how large a home purchase you can afford. Going through the mortgage preapproval process with a lender can give you a sense of how large a loan you’re liable to get, too.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Components of a Mortgage Payment
The main components of a mortgage payment are the loan’s principal and interest. The principal is the amount that you borrowed, while the interest is the cost of borrowing that money. Additionally, depending on your loan and lender, your monthly payment may include money for your property tax, which the San Antonio mortgage calculator can take into account. Your mortgage payments might also cover your homeowners insurance payments and, if you’re subject to either, private mortgage insurance (PMI) or homeowners association (HOA) fees.
What exactly your mortgage payment includes also depends on what kind of mortgage loan you choose. Specialized calculators can be useful for factoring in loan-specific costs. If you’re applying for a FHA loan (one guaranteed by the Federal Housing Administration), you can use an FHA mortgage calculator, which allows for the mortgage insurance premiums that kind of loan requires. Likewise, a VA mortgage calculator can take into account relevant fees when you’re looking at a loan backed by the U.S. Department of Veterans Affairs.
Cost of Living in San Antonio
San Antonio’s cost of living significantly impacts not just home affordability, but also costs such as utilities, health care, transportation, and more. Fortunately, San Antonio’s cost of living is almost nine percent below the national average, according to the Council for Community and Economic Research’s Cost of Living Index (COLI), which compares the cost of living in major metro areas against the national average of 100. Below is a breakdown of the COLI for different living expenses in San Antonio, and as you can see, most of them fall comfortably below the national average.
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.
San Antonio’s First-Time Homebuyer Assistance Programs
If you’re buying your first home in San Antonio, you may want to take advantage of one of the homebuyer assistance programs offered by several organizations in Texas. (Even if you’re a repeat homeowner, you may still qualify as a first-time homebuyer if you haven’t owned a primary residence within the past three years.) These programs offer both low-interest loans and financial help for your down payment, closing costs, or both.
If you’re a veteran or a public service professional like a librarian, nurse, or public schoolteacher, you may also be eligible for the Homes for Texas Heroes program, which provides both home loans and down payment assistance. These programs can ease the initial costs of buying a home so they’re well worth researching.
Tips on Reducing Your Mortgage Payment
Once you’ve bought your home, there may still be ways you can reduce your monthly payments. Here are some options.
• As soon as you reach 20% equity in your home, you can ask your lender to drop your private mortgage insurance (PMI).
• If you get a windfall and can put a large lump sum toward your principal, find out if your lender is willing to recast your loan. This reamortizes your mortgage, which reduces your monthly payment while retaining your interest rate and loan term.
• Appeal your property tax assessment if you believe it was too high. Should your tax authority lower your assessment, you’ll pay less in property taxes.
• If mortgage rates drop or your credit improves and you can get a lower interest rate, consider a mortgage refinance. Be sure to take closing costs into account.
• When you are experiencing financial hardship, you can request that your lender modify your mortgage to lower your monthly payments.
The San Antonio mortgage calculator can be a powerful tool, helping you estimate monthly payments, total interest, and the overall cost of a mortgage you’re interested in. You can also use the calculator to tweak different mortgage factors to see how the changes affect your costs. Whether you’re a first-time homebuyer or a seasoned homeowner, using this mortgage calculator can help you achieve your homeownership goals while remaining within your budget.
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.
How does my credit score affect my mortgage loan interest rate?
Your credit score can be a significant factor in determining your mortgage interest rate. Lenders tend to see a higher credit score as a sign of creditworthiness so it can help secure you a lower interest rate, reducing your monthly payments and the total cost of the loan. Conversely, a lower credit score may result in a higher interest rate, increasing your financial burden.
What are principal and interest on a mortgage loan?
Your mortgage principal is the amount you borrow to purchase your home, and the interest is the cost of borrowing that money. Your mortgage payments will go toward repaying both.
Should I choose a 30-year or 15-year mortgage term?
When you’re choosing between a 30-year and a 15-year mortgage, consider your finances. A 30-year term offers lower monthly payments, which can feel more affordable, but it increases the amount of total interest you’ll pay over the life of the loan. A 15-year term will have higher payments but will cost less in interest and build equity faster. If you can afford the monthly payments, a 15-year mortgage may be a more economical choice. But if you need financial flexibility, a 30-year term takes a smaller bite out of your monthly budget.
How can I get a lower mortgage interest rate?
To get a lower mortgage interest rate, you can try strengthening your credit score, saving up to put down a larger down payment, or shopping around for a better rate, since different lenders may offer you different options.
SoFi Mortgages
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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*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.
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.
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.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
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.
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