222 DOUGLAS WAY ST, San Antonio, TX 78210
Seller concession, seller will contribute to a buyer's closing costs. Welcome to this charming 2-bedroom, 2-bathroom home nestled in a tranquil neighborhood. Over the past 2.5 years, this property has undergone significant updates, enhancing both functionality and aesthetic appeal. As you approach, you'll notice the newly installed front yard fence complete with gates, a sidewalk, and hardscaping that not only adds curb appeal but also ensures privacy and security. A spacious carport with a large side gate provides convenient access to the backyard, where a well-maintained sidewalk leads to a delightful wood deck featuring a ramp and pergola-perfect for enjoying outdoor gatherings or relaxing afternoons. Privacy is paramount with newly erected 6-foot height fences surrounding the backyard, creating a serene oasis. Inside, comfort meets style with an additional layer of insulation in the attic, offering improved energy efficiency, complemented by enhanced ventilation throughout the house. The master bathroom boasts a luxurious upgrade, showcasing a new custom solid pine double vanity with a sleek quartz countertop and a storage tower, combining elegance with practicality. Outside, a newly constructed steel carport ensures protection for your vehicles, designed with both durability and aesthetics in mind. Further ensuring safety and efficiency, the property features an emergency cutoff switch at the water meter, providing peace of mind during unforeseen circumstances. Structural integrity has been reinforced with recent foundation maintenance, including new piers and shims, ensuring stability and longevity for years to come. This home offers not just a place to live, but a sanctuary where modern updates blend seamlessly with comfort and functionality. Whether you're enjoying the serene backyard, the beautifully renovated interior spaces, or the peace of mind from recent structural and safety improvements, this home is ready to welcome you. Come and experience the charm and convenience this updated property has to offer-a perfect blend of modern living and thoughtful design.
You may be able to put down less than the total down payment amount of $35,762 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: #1796437