1030 Magnolia Bnd, San Antonio, TX 78251
4 beds · 3 baths · 2,765 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Our homeowner wants to make your buyer's dream come true! Additional benefit our seller can offer to your buyer is: down payment assistance loan. This exceptional 4-bedroom, 2.5-bathroom, two-story home is located in a highly sought-after neighborhood on a spacious corner lot. The open floor plan seamlessly connects the formal, living, dining, and kitchen areas, making it perfect for family gatherings and entertaining. Enjoy the cost-saving benefits of fully paid-off solar panels, which help save approximately $150 per month on your electric bill! The property boasts a 5 Ton 16 Seer AC unit with directional venting, which includes upper and lower thermostats, is only three years old and features a brand-new condenser, and a zoning system, allowing you to independently control the temperature for maximum comfort. A paid-off water softener is also included for your convenience. The back fence and deck were updated just three years ago, offering a fresh and polished look. Additionally, the property includes a shed in the backyard for extra storage. The living room is wired with a surround sound system, perfect for movie nights and relaxation. The side lot next to the house is also part of the property, offering the potential to extend the fence and enlarge the backyard with HOA approval. This home has been meticulously maintained and boasts several updates, including the AC unit, solar panels, new fence and deck, and water softener. Conveniently located just a few minutes from Murnin Elementary School, this home is ideal for individuals or families seeking both comfort and convenience. Don't miss the opportunity to own this beautifully updated home!
Source: SABOR #1855857
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: SABOR #1855857
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 620, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.