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While buying your first home is truly exciting, it also requires a great deal of consideration, research, and financial planning. Below, you'll find answers to the questions first timers may be contemplating when thinking about buying a home. We've also compiled a comprehensive guide for the entire homebuying process with a special emphasis on the first-time homebuying experience.
Happy house hunting!
It’s a big step. There are many aspects to consider. The most important is determining whether you can really afford to buy, and if your budget allows you purchase a home in the area you desire. Other things to take into consideration include the reality of the new responsibilities of home ownership such as property taxes, insurance and maintenance.
Check out our First-Time Homebuyers Guide for all the details.
There are a variety of types of loans available, including fixed rate and adjustable-rate mortgages, Veterans Administration (VA) loans for those who served in the military, and Federal Housing Administration (FHA) loans, offering lower down payments. The most important factor in determining which is right for you is knowing your credit score, a 3-digit number based on your complete credit history. It’s also essential to know how much you can qualify to borrow and what you can afford for your down payment.
To learn how to check your credit score, steps to get pre-qualified, and the documents needed to apply for a loan, consult our First-Time Homebuyers Guide.
When you’ve pre-qualified for a loan and established the range of your down payment, it’s time to search for your dream home! Engaging a professional realtor is a smart step. They work full-time in real estate and have the experience to guide you through the process. A realtor will help you concentrate on a home in your established price range and desired neighborhoods. They’ll also advise you on your offer to purchase and prepare the contracts. Your lender will take care of all the additional paperwork and arrange for the closing.
Read more about partnering with your realtor and lender to simplify the home buying process in our First-Time Homebuyers Guide.
Closing is that special time all new home buyers look forward to. It’s when the final papers are signed, and you officially become a homeowner. Your realtor and the representatives of the title company will prepare all the papers in advance for your review. After you pay the down payment and closing costs, you’ll get the keys to your new home!
Get more information on closings by opening our First-Time Homebuyers Guide.
Here are some convenient tools to help you navigate the home buying process, including information on accessing your credit score and what it means, a calculator to give you an idea of your estimated monthly payments, a list of documents you'll need to make a mortgage application, and more. We hope you find them helpful.
You can also request a free copy of your credit report from each of three major credit reporting agencies at AnnualCreditReport.com or call toll-free (877) 322-8228.
Your credit history is the summary of the money you owe (credit cards, loans, etc.), how long you’ve owed it, and whether or not you make payments on time. Your credit score is based on all the facts in your credit history. It’s listed as a 3-digit number that tells lenders whether you have an excellent, good, fair, or poor credit rating.
This mortgage calculator provides a general range of your estimated monthly payments but does not include certain costs such as HOA fees. Consult a member of the Jefferson Bank Lending Team for specific information, including current interest rates.*
*This calculator is being provided for educational purposes only and is provided by a third party not controlled by Jefferson Bank. The results are estimates that are based on the information you provided and may not reflect Jefferson Bank product terms. Jefferson Bank is not responsible for the content, results, or the accuracy of information. Speak with a Jefferson Bank Mortgage Loan Officer for more specific information.
These lists include the basic information you’ll need for your application. A member of the Jefferson Bank Lending Team will advise you if more specific documentation is required.
Make a smart move.
Get pre-qualified for your home loan. Start here.
Determine your estimated monthly home payments.
Use our mortgage calculator.
The San Antonio area has been our home for more than 75 years. Our experienced team is familiar with the unique needs of the region. We’ve helped thousands of local residents realize their goal of home ownership.
Manage the entire home loan process with the Jefferson Bank Home Loan App. It’s quick, simple, secure, and free*. Get prequalified and apply on your smart device. Download on the App Store or Google Play.
This is personal to us. Those aren’t just words, it’s the core business philosophy we live by everyday. Our team is dedicated to exceeding expectations with an unrivaled level of personalized service.
Our commitment to you doesn't end at closing. We’re always here with quick responses to your ongoing needs and questions. We’re your home base for home loans, now and in the future.
Best of all, you’ll have access to our experience and service while still enjoying competitive financing rates.
All home lending products are subject to credit approval. Rates, program terms and conditions are subject to change without notice. Other restrictions and limitations apply.
Jefferson Bank is chartered under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking. Any consumer wishing to file a complaint against Jefferson Bank should contact the Texas Department of Banking through one of the means indicated below:
Investment and Insurance Products are:
Deposit products offered by Jefferson Bank. Member FDIC
NMLS# 597833
Download the Jefferson Bank Home Loan app* from the App Store or Google Play
*While Jefferson Bank does not charge fees for the use of Mobile Banking or Online Banking, message and data rates may apply. Check with your service provider for details.
Android™ and Google Play™ store are trademarks of Google LLC. Apple®, and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store® is a service mark of Apple Inc.
