615 N Pine St, San Antonio, TX 78202
2 beds · 2 baths · 1,417 sqft
Priced $65,000 below Spring 2024 appraisal! Unique property - can be a SF or a duplex. Occupy it whole, house hack, live in one side and Airbnb the other. So many options. Setup is as follows: House is a SF residence in historic Dignowity with two front doors as it used to be a duplex. It was fully renovated in 2016 for a family who wanted privacy but access, so a secure door was installed in the middle of the house that can be locked on either side, or opened up to allow full access for everyone. This makes the perfect setup for a house hack (live on one side, rent the other) or remove the door and it's a Single Family home with 2 bedrooms and a separate potential bedroom/office with a small kitchen (which can easily be converted into a 3rd bedroom). The home is currently used as a duplex with one side holding a Long Term Renter ( September lease expiration). Located a block away from the new Dignowity Park, you're close to downtown, 281, I35 and the Alamodome. Local bars and shops within walking distance and a restaurant across the street! Fully renovated in 2016, the home has original details like wood floors, high ceilings and shiplap, but has all the modern updates with new kitchens, baths, doors, and more. 2024 improvements with interior and exterior paint, refinish of front porch. But to accommodate it's unique use as a duplex, each "side" has it's own HVAC and a shared utility room. New storage shed in the back with 2 car carport. Metal fence in front.
Source: SABOR #1800442
Interest rate and monthly payment estimated based on public records.
Source: SABOR #1800442
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: #1800442
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.