12203 SADDLE UP DR, San Antonio, TX 78254
MOTIVATED SELLERS!! Don't miss out on touring this impressive Palomar floorplan by David Weekley Homes! This expansive two-story residence features 4 bedrooms, 3.5 bathrooms, and 2994 sqft of living space, nestled on a corner lot with no rear neighbors to share a fence with. Prospective buyers will need to assume the lease payments for the Solar Panels. Inside, discover an open floor plan with tiled flooring throughout the first floor and stylish 5-inch baseboards. A welcoming office/study area awaits as you enter. The kitchen boasts granite countertops, shaker cabinets, and stainless-steel appliances, with a spacious walk-in pantry and farmhouse sink. The living room boasts soaring 30-foot ceilings, motorized window shades on the upper level, and a gas fireplace with a stylish shiplap wall accent creates an inviting focal point in this living space. Additional features include a two-car garage with an extended storage area and a mudroom connecting to the garage. The staircase showcases metal spindles, while bathroom vanities are adorned with customized framing. Outside, the front porch boasts custom railing and the front yard features custom brick and concrete work surrounding trees and floral beds, alongside 6-inch gutters. The backyard is equipped with a gas connection for a BBQ grill and a zoned sprinkler system covering both the front and back. The property includes an owned water softener. This well-designed home offers all the desired upgrades without the premium of a new build and includes an extended and screened-in covered porch. Conveniently located within walking distance to Tomlinson Elementary and Folks Middle School, and just 2 miles from the brand-new Sotomayor High School. The community offers frequent events and is close to Government Canyon State Park, Sea World, Six Flags Fiesta, and various shopping areas.
You may be able to put down less than the total down payment amount of $55,983 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: #1793798