120 HORSEMINT WAY, San Marcos, TX 78666
Welcome to your dream home! Located in the beautiful Trace subdivision on the south side of San Marcos with quick access to IH-35 and less than 10 minutes to New Braunfels one way, and the heart of San Marcos the other way. This spacious five-bedroom residence features a luxurious primary bedroom on the first floor, complete with lovely French doors leading to a private ensuite. Ideal for families seeking both space and community amenities, this home offers two expansive living areas. The main level boasts an open-concept living room that seamlessly flows into the kitchen and dining area, while the second floor hosts a bright and airy loft. The kitchen is a chef's delight, featuring sleek quartz countertops, a glossy backsplash, stainless steel appliances, and a large island with extra seating. The dining area comfortably accommodates a long dining table and overlooks the living area and kitchen, making it ideal for entertaining. At the entrance of the home you'll find a half bath, perfect for guests, and across the hall is a door to your 2-car attached garage. Under the stairs is a spacious storage room for all the extras. Venture upstairs to find a loft with high ceilings and access to a full bathroom and four additional bedrooms. The space has been used so wisely! The backyard is a versatile space with two side areas optimal for a dog run, leaving plenty of room behind the home to create your own outdoor oasis. Residents of the Trace Community enjoy fantastic amenities, including a community pool, sand volleyball court, half basketball court, playground, covered pavilion with tables and bbq pits, and wide sidewalks perfect for an active lifestyle. This home is within walking distance to Rodriguez Elementary, the newest and most innovative elementary school within SMCISD. There's also easy access to a convenience store without having to leave the neighborhood. Some photos are virtually staged.
You may be able to put down less than the total down payment amount of $131,571 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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 580, 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.
Frequently asked questions
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #9408417