719 MISTY WATER LN, San Antonio, TX 78260
Start packing!!! If you've been looking for your forever home in Timberwood Park, then look no further. This charming one-story home, set on a spacious 0.59-acre lot, is surrounded by lush trees offering ample shade. A long driveway leads to a solar-powered lighted sidewalk and a covered front porch with a large front door. Upon entering, you're greeted by a welcoming floor plan featuring stunning archways. The home includes a private office with double glass doors and a dining room with tray ceilings and two archways, adding elegance and openness. The recently updated kitchen boasts new cabinetry with soft-close drawers, crown molding, an island, reverse osmosis (2024), smooth cooktop, microwave, double ovens, stainless steel refrigerator, and dishwasher. A wine/coffee bar with an under-counter wine refrigerator is a standout feature. The breakfast bar opens to the living room and breakfast area. The living room features vaulted ceilings, wall niches, and a wood-burning brick fireplace. Large windows provide plenty of natural light. The spacious primary bedroom offers outdoor access and a tray ceiling. The primary bath features his and her vanities, a jacuzzi tub, a walk-in shower, and a huge walk-in closet. The backyard is paradise that offers a fully equipped outdoor kitchen (that lights up blue at night) with a sink featuring hot water, a built-in ice chest, refrigerator, double side burner, grill, and a pizza oven, with two separate sitting areas and a huge pergola with polycarbonate that offers protection but still allows natural sunlight. Perfect for outdoor relaxation. Additional storage is conveniently located under the deck, with metal sheeting installed to prevent water from wetting the stored wood. The backyard also includes an on-site built shed, a garden with an irrigation system (2022), and a playscape, perfect for family activities. The home features updated systems, including an HVAC from 2020, a water heater installed in 2022, a deck built in 2022, and a roof installed 04/2024.
You may be able to put down less than the total down payment amount of $274,389 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: #1801970