16307 LANTANA PT, San Antonio, TX 78247
This is a rare opportunity to purchase a home with an 3.5 interest rate. Assume this VA loan with Roam and save thousands annually. Welcome to 16307 Lantana Point in San Antonio's desirable Escalera Subdivision! This stunning single-family detached home offers contemporary elegance and spacious living across its 2276 square feet, perfectly designed for comfort and convenience. Built-in 2020 by MI Homes, this pre-owned gem features a modern, single-level floor plan ideal for those seeking a stair-free living. With five bedrooms and a separate dedicated office space, this home is perfect for large families or multi-generational living, providing ample room for everyone, including grandparents who may appreciate the ease of single-story living. As you step inside, you're greeted by a warm and inviting ambiance. The expansive living room is perfect for hosting gatherings or relaxing evenings, while the adjoining dining room sets the stage for intimate meals. The family room, with its generous dimensions, offers a comfortable space for unwinding. The heart of the home, the kitchen, is a chef's delight, featuring sleek cabinetry, ample counter space, and state-of-the-art appliances, including a gas stove and dishwasher. A breakfast area promises delightful mornings bathed in natural light. All five bedrooms are thoughtfully positioned on the main level, providing ease and accessibility. The primary bedroom is a tranquil retreat, complete with a luxurious en suite bath featuring a spacious shower, double vanity, and a sizable walk-in closet. The additional bedrooms are versatile and can accommodate family and guests or even be repurposed as hobby rooms or extra office space. The home also boasts a separate dedicated office space, perfect for remote work or study, enhancing the functionality of this well-designed property. Outside, enjoy the Texas weather on the elevated patio and custom deck surrounding a sparkling above-ground pool, offering a wonderful space for al fresco dining or lounging. Although elevated, this area provides a serene outdoor retreat without compromising privacy. Located within the North East I.S.D, this home is surrounded by excellent schools, making it an ideal choice for families. With easy access to major highways, shopping, and dining options, everything you need is within reach. Don't miss your chance to own this exquisite property in Escalera Subdivision. Schedule your showing today and envision a future filled with comfort, convenience, and cherished memories in this beautiful San Antonio home!
You may be able to put down less than the total down payment amount of $126,688 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: #1771626