16506 CRESTED BUTTE ST, San Antonio, TX 78247
Welcome to this charming two-bedroom, two-bath home in the heart of San Antonio! Perfect for those seeking a low-maintenance lifestyle, this adorable residence blends modern comfort with cozy living. The open floor plan seamlessly connects the living, dining, and kitchen areas, making it ideal for both entertaining and everyday life. The kitchen is well-equipped with sleek countertops, ample cabinetry, and modern appliances, ensuring meal prep is a breeze. The spacious primary bedroom features an en-suite bathroom, providing a private retreat, while the second bedroom is versatile enough to serve as a guest room, home office, or more. The low-maintenance backyard offers just the right amount of space for relaxation or a small garden, without the hassle of extensive upkeep. Located in a friendly, well-maintained community, you'll have easy access to local shops, dining, and entertainment, with San Antonio's vibrant downtown just minutes away. Additionaly, this home is currently a successful Airbnb rental, making it not only a cozy place to live but also an excellent investment opportunity. Whether you're a first-time homebuyer, looking to downsize, or seeking a hassle-free income property, this home checks all the boxes. Don't miss out on making it yours! This version highlights both the home's charm and its potential as a successful investment.
You may be able to put down less than the total down payment amount of $70,434 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: #1803487