725 E Magnolia Ave, San Antonio, TX 78212
3 beds · 2 baths · 1,984 sqft
Get a free consultation call with an expert in the mortgage assumption process.
**Motivated Seller** VA Assumable! We have partnered with REV Mortgage, who is offering a 1% buyer credit at closing to help cover your closing costs. Great opportunity for STR or AirBNB! Welcome to 725 E Magnolia Ave, a beautifully reimagined gem in the heart of the historic River Road district in San Antonio. This 1930s home masterfully blends vintage charm with modern convenience. Fully renovated in 2016, the interior features an open floor plan that creates a spacious and inviting layout while maintaining the home's classic appeal. Offering 3 bedrooms, 2 bathrooms, and 1,984 square feet of thoughtfully designed living space, this home is as functional as it is beautiful. The rear of the home boasts a versatile flex space, perfect for a home office, studio, or additional living area. Throughout the house, you'll find modern upgrades, including electric air and heating, a gas water heater, and a roof that's approximately five years old (per the seller). Hidden touches, like the swing-out bookshelf that reveals a discreet laundry room, add a unique charm to this fully updated space. Outside, the backyard features low-maintenance landscaping, creating a serene space for relaxation or entertaining. The property is situated at the end of a quiet street, with an uncovered driveway offering parking for up to four vehicles. Mature trees along the side provide natural sound insulation from the nearby highway, maintaining a peaceful atmosphere. Located just off the north end of the iconic St. Mary's Strip, this home places you within walking distance of vibrant nightlife and dining. It's also minutes from the Japanese Tea Gardens, shopping, and other popular attractions, making it a prime location for enjoying all that San Antonio has to offer. Don't miss the opportunity to own this charming and unique property in one of San Antonio's most sought-after areas! Multi-colored barn door to second bathroom does not convey.
Source: SABOR #1847623
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: SABOR #1847623
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.