414 Marquis Ln, San Antonio, TX 78216
3 beds · 2 baths · 1,320 sqft sqft
This charming 3-bedroom, 2-bath Mid-Century Ranch is located in the much sought after Alamo Heights School District. Features include original hardwood floors and wood shutters throughout the home. The interior painted neutral colors with an accent wall in the living/dining room. The galley kitchen has the original mid-century cabinetry with undermount lighting and includes the original wall paneling in the eat-in-kitchen. The secondary bedrooms have built-in drawer storage. The primary bedroom offers a second closet for additional storage and an en-suite bathroom with a walk-in shower and a single vanity. The backyard is enclosed with a privacy and a chain link fence with a double back gate. The yard offers an uncovered patio and mature trees that include a Fig, Crepe Myrtle, and Mountain Laurel. The yard is a great size for entertaining and backs up to an alley. The home has flood lights, and a Ring Doorbell with a camera system for additional security. The roof was replaced by the prior owners in 2010, and the water heater was replaced in 2024. The home is conveniently located to 410, 281, North Star Mall, the Quarry, the SA International Airport, shops, and restaurants.
Source: SABOR #1823160
Interest rate and monthly payment estimated based on public records.
Source: SABOR #1823160
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
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.
MLS ID: #1823160
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.