Mortgage Broker in San Antonio, TX - More Options, Better Rates
Matt Mayo is a licensed mortgage broker serving San Antonio and all of Bexar County with access to 150+ wholesale lenders. Whether you're a military family using your VA benefit near Joint Base San Antonio, a first-time buyer looking at affordable homes on the south or west side, or an investor building a rental portfolio, I shop the entire market to find the right loan. Book a free consultation to see what you qualify for.
Book a Free ConsultationSan Antonio Market Snapshot
Last updated: Mar 15, 2026
Median Price
$295,000
Avg Days on Market
82
Entry Price
$180K-$260K (south side, west side, Heritage, Converse)
High End
$500K-$1.2M+ (Alamo Heights, Terrell Hills, Stone Oak luxury, The Dominion)
Typical properties: Single-family homes, new construction, townhomes, multi-unit investment properties
Source: San Antonio Board of REALTORS (SABOR) / Redfin / Zillow
Loan Programs That Work in San Antonio
FHA
Bexar County uses the national baseline FHA limit of $541,287 for 2026. With San Antonio's median price around $295,000, almost every home in the metro falls inside FHA territory. On a $295,000 home at 3.5% down, you need $10,325 out of pocket. FHA is a natural fit for San Antonio buyers, especially first-timers, and when you combine it with Texas DPA programs, many buyers get in with very little cash at closing.
Conventional
For buyers with 680+ credit and at least 5% down, conventional loans are worth comparing against FHA on every deal. You skip the upfront mortgage insurance premium and can cancel PMI once you reach 20% equity. At San Antonio's price points, the monthly savings between FHA and conventional can add up. The conforming limit is $832,750, which covers everything short of the luxury market.
VA
This is where San Antonio stands apart. Joint Base San Antonio is the largest joint base in the Department of Defense, supporting a population of 80,000 across three installations: Fort Sam Houston, Lackland Air Force Base, and Randolph Air Force Base. Add the retired military population and San Antonio has one of the highest concentrations of VA-eligible buyers in the country. VA loans offer zero down payment and no monthly mortgage insurance. On a $295,000 home, that's $10,325 you don't need at closing compared to FHA, plus no monthly PMI. With BAH rates for an E-5 with dependents around $1,935/month and home prices in the low $300s, many service members can buy a home where BAH covers most or all of the mortgage. I hold a Military and Veteran Lending Certification and work with VA buyers across the San Antonio area.
DSCR (Investor)
San Antonio's investor math is some of the best in Texas. Gross rental yields of 6-8% in neighborhoods like Southtown, the East Side, and Harlandale make the numbers work for DSCR loans. These loans qualify based on rental income, not personal income. No tax returns, no W-2s. If the rent covers the mortgage, you can close. I work with investors buying single-family rentals and small multi-family properties across Bexar County.
Down Payment Assistance
Texas has strong statewide DPA programs. TDHCA's My First Texas Home and TSAHC's Home Sweet Texas both offer up to 5% of the loan amount in assistance, either as a grant or a forgivable second mortgage. TSAHC's Homes for Texas Heroes program is built for teachers, first responders, and veterans. The SETH 5 Star program offers up to 5% as a forgivable loan (forgiven after 3 years). And I have access to lender-specific wholesale DPA programs on top of all of that. At San Antonio's price points, 5% of a $295,000 loan is nearly $15,000 in assistance. ---
Bexar County Loan Limits
2026
FHA Limit
$541,287
Conforming Limit
$832,750
Local Assistance Programs in San Antonio
TDHCA - My First Texas Home
30-year fixed-rate mortgage with up to 5% of the loan amount for down payment and closing cost assistance. Assistance comes as a deferred second mortgage. On a $295,000 loan, that's up to $14,750 in help.
First-time buyer (no ownership in past 3 years) or veteran. Minimum 620 credit score. Income limits apply (80% of AMI for most programs). Must complete a homebuyer education course. Available statewide.
TSAHC - Homes for Texas Heroes
30-year fixed-rate loan with up to 5% DPA as a grant or zero-interest forgivable second mortgage (forgiven after 3 years if you stay in the home). Specifically designed for teachers, firefighters, EMS, police, corrections officers, and veterans.
Must work in an eligible profession or be a veteran. Income limits apply. Credit score minimum of 620. Property must be a primary residence in Texas.
TSAHC - Home Sweet Texas
Same structure as Homes for Texas Heroes but open to all income-qualified buyers, not limited to specific professions. Up to 5% DPA as a grant or forgivable second.
First-time and repeat buyers. Income limits apply by county. 620 minimum credit score. Primary residence in Texas.
SETH 5 Star Texas Advantage
Up to 5% of the loan amount as a forgivable community second loan. Forgiven after 3 years if you stay in the home. Available with FHA, USDA, VA, and conventional financing.
Available statewide (note: some city exclusions may apply, but Bexar County/San Antonio is eligible). Income limits apply. Homebuyer education course required.
Texas Mortgage Credit Certificate (MCC)
Dollar-for-dollar federal tax credit on mortgage interest paid. Can be paired with TDHCA programs. MCC rate is 25% of annual interest, up to $2,000 per year. No minimum credit score for standalone MCC. This is an ongoing annual benefit, not a one-time grant.
Can be paired with TDHCA first mortgage programs. First-time buyer or veteran. Income and purchase price limits apply.
Lender-Specific DPA Programs
Wholesale lender programs that can cover a portion of your FHA down payment. Available only through brokers with wholesale lender access. Income limits and guidelines vary.
Only available through mortgage brokers. Income limits vary by program. ---
Bexar County Programs
Bexar County does not currently operate a standalone county-level DPA program separate from the state programs listed above. San Antonio buyers benefit primarily from TDHCA, TSAHC, SETH, and lender-specific DPA. The City of San Antonio's Office of Neighborhood and Housing Services periodically offers housing assistance programs funded through federal grants. Contact 311 or visit sanantonio.gov/NHSD for current availability.
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Neighborhood Insights
San Antonio is one of the most affordable major cities in Texas, and the neighborhoods here span everything from historic districts near the River Walk to sprawling new construction on the outskirts. Here's what I tell buyers who are getting to know the area: **Stone Oak** is a master-planned community in north San Antonio that draws families for its top-rated schools, gated subdivisions, and suburban feel. Homes typically run $350K-$600K, with newer construction at the higher end. Conventional is the standard loan type here. Stone Oak buyers often relocate from other states and are looking for space, safety, and schools. **Alamo Heights and Terrell Hills** are two of the most established neighborhoods in San Antonio, with tree-lined streets, historic homes, and the Alamo Heights Independent School District. Homes in Alamo Heights start around $500K and climb past $2M. Terrell Hills averages around $880K. Conventional and jumbo are the primary loan types. These neighborhoods hold their value and attract buyers who prioritize schools and walkability. **Southtown and King William** sit just south of downtown and offer a mix of historic Victorian homes, modern condos, and a walkable arts district. Home prices range from $300K-$600K for renovated homes, with some historic estates going higher. Conventional works well here. Investors looking at short-term rentals near the River Walk should consider DSCR. **Alamo Ranch and Westover Hills** are popular with military families stationed at Lackland AFB, about 15-25 minutes from base. Newer subdivisions with homes in the $250K-$400K range. FHA and VA are common here. Alamo Ranch has a strong military homeowner community and is one of the go-to neighborhoods for JBSA families. **Heritage and the West Side** offer some of San Antonio's most affordable homes, often in the $180K-$280K range, just 5-10 minutes from Lackland. FHA is a strong fit, and these are the neighborhoods where Texas DPA programs make the biggest impact. A buyer using TDHCA or TSAHC assistance on a $250K home could see nearly all of their down payment covered. **Schertz, Cibolo, and Universal City** are adjacent to Randolph AFB and popular with military families who want good schools and a safe suburban environment. Homes typically run $250K-$400K. VA and FHA are the most common loan types. These communities feel like small towns with the convenience of being close to base and within commuting distance of downtown. Even though I didn't grow up in San Antonio, I make it my business to understand the neighborhoods my clients are buying in. The right financing strategy depends on where you're buying, not just what you can afford. San Antonio's military presence, its affordability, and its range of neighborhoods mean every deal has a different angle, and I account for all of them. ---
Why Work With a San Antonio Mortgage Broker?
San Antonio's market is one of the most affordable in Texas, but affordable doesn't mean simple. A service member using VA benefits near Lackland needs a different approach than a first-time buyer stacking DPA programs on the south side. And both need something different than an investor buying rental properties near the River Walk.
A bank gives you their products. If your deal doesn't fit, they pass. As a broker, I work with over 150 wholesale lenders and can match the right program to your situation. In a military-heavy market like San Antonio, that flexibility matters because VA guidelines differ between lenders more than most buyers realize.
What "150+ Lenders" Actually Means for You
VA loans are a good example. One lender might overlay a minimum credit score of 620 on top of VA's guidelines. Another might close at 580. One might require 6 months of reserves on a $300K purchase. Another might require zero. Same VA program, different lender rules.
This is true across every loan type. FHA, conventional, DSCR, all of them have lender-specific variations. My job is knowing which lender has the right guidelines for your specific deal so you don't get declined by the wrong one and think you can't buy a home.
My Pre-Approval Actually Means Something
I do a full review of your income, assets, and credit before issuing a pre-approval. For military buyers, that means I verify your LES, BAH, and any special pay up front. For civilian buyers, I review everything before you start shopping.
That level of prep means when you make an offer, the listing agent knows the financing is solid. In a market where sellers have more negotiating power than they did in 2021 but still want a clean deal, a complete pre-approval from a broker who's done the homework matters.
Your San Antonio Mortgage Broker
I'm licensed in Texas and work with buyers across Bexar County and the greater San Antonio metro, including Schertz, Cibolo, Universal City, New Braunfels, and Boerne. Most of my San Antonio clients work with me by phone, video, and email. The process is the same whether we're in the same city or across the state.
I also hold a Military and Veteran Lending Certification (MVLC) from VAREP and teach mortgage education classes to real estate agents as Chair of the Pacific West Association of Realtors Young Professionals Network. That combination means I understand both the military buyer's perspective and the agent's perspective, and I can make the transaction smoother for everyone.
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Frequently Asked Questions
How much do I need for a down payment to buy in San Antonio?
It depends on the loan type. FHA requires 3.5% down. On a $295,000 home, that's $10,325. Conventional starts at 3-5% down. VA requires zero down for eligible military buyers. And Texas has statewide DPA programs that can provide up to 5% of the loan amount in assistance, which at San Antonio's prices can cover most or all of your down payment. I'll show you which programs apply.
What is the FHA loan limit in Bexar County?
For 2026, the FHA limit in Bexar County is $541,287 for a single-family home. With San Antonio's median price around $295,000, virtually every home in the metro falls well within FHA range.
What is the conforming loan limit in Bexar County?
The 2026 conforming limit is $832,750 for a single-family home. The same baseline applies across all Texas counties. You'd only need jumbo financing for luxury properties in areas like Alamo Heights, Terrell Hills, or The Dominion.
I'm stationed at JBSA. Can I use my VA loan here?
Yes, and San Antonio is one of the best markets in the country for VA buyers. With homes in the low $300s and BAH for an E-5 with dependents around $1,935/month, many service members can buy a home where BAH covers most of the mortgage. Zero down payment and no PMI means you keep more cash in your pocket. I hold a Military and Veteran Lending Certification and work with JBSA buyers regularly.
What first-time buyer programs are available in San Antonio?
Texas has several statewide programs. TDHCA's My First Texas Home offers up to 5% DPA. TSAHC's Home Sweet Texas and Homes for Texas Heroes (for teachers, first responders, and veterans) also provide up to 5%. The SETH 5 Star program offers forgivable assistance. The Texas MCC provides an ongoing annual tax credit. And I have lender-specific DPA through my wholesale network. We look at all of them to find the best fit.
What's the difference between a mortgage broker and a bank?
A bank has one set of products. If your deal doesn't fit, they say no. A broker like me shops across 150+ wholesale lenders to find the best rate, the right program, and the most flexible guidelines. Same result, a mortgage, but with more options and someone in your corner.
How much house can I afford in San Antonio?
The median home price here is around $295,000, making San Antonio one of the most affordable major cities in Texas. With 5% down, that's $14,750 out of pocket. Monthly payments at current rates run roughly $2,100-$2,500 depending on your rate, property taxes, and insurance. Texas property taxes are higher than the national average (around 1.8-2.2% of assessed value in Bexar County), so that's an important factor in your monthly budget. I can run your exact numbers in a quick call.
What are closing costs when buying in San Antonio?
Closing costs in San Antonio typically run 2-5% of the purchase price. On a $295,000 home, that's roughly $5,900-$14,750. In Texas, closing cost customs vary, and some items are negotiable between buyer and seller. Because I work with 150+ lenders, I can often find options with lender credits to offset your closing costs.
Can I buy a home in San Antonio if I'm self-employed?
Yes. San Antonio has a growing number of small business owners and self-employed workers in healthcare, tech, and construction. Bank statement loan programs use 12-24 months of deposits instead of tax returns. Asset depletion is another option. If you earn good income but your tax returns are written to minimize what you owe, there's a path to homeownership. That's a conversation I have regularly.
What happens if my appraisal comes in low in San Antonio?
Low appraisals happen in San Antonio, especially in areas with a lot of new construction where builder pricing may outpace resale comps. Your options: renegotiate the price, cover the gap in cash, challenge with stronger comparable sales, or walk away if your contract allows. In new construction deals, builders sometimes adjust price or offer concessions to keep the sale together. I've helped clients through all of these scenarios. ---
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