6054 SPRING TIME ST, San Antonio, TX 78249
1% INTEREST RATE BUYDOWN when you use preferred lender Josh Sigman at Legacy Mutual. Freshly updated kitchen and master bath July 2024!! Located on a greenbelt, this home is ready for its new owners! Featuring 4 bedrooms, 2.5 bathrooms, and a 2-car garage, this residence offers ample space and modern upgrades throughout. The master bedroom, conveniently located on the main floor, is a private and oversized retreat. The home showcases an expansive living room with high ceilings, ideal for hosting gatherings and family events. Built-in shelves and a large wood-burning fireplace create a welcoming ambiance, and natural light filters through the breakfast bar area, showcasing the beautiful backyard and green belt beyond the living room. Upstairs, three generously-sized secondary bedrooms provide ample space in addition to the large flex/game room, which itself has a massive walk-in closet, and all boast new carpet. A standout feature is the expansive walk-in pantry, which includes a laundry area and provides convenient access to the primary suite. This home seamlessly combines modern convenience with elegant design, making it an ideal choice for those seeking both comfort and functionality. Don't miss the opportunity to make this well-appointed residence your own.
You may be able to put down less than the total down payment amount of $136,620 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: #1799898