117 W Woodlawn Ave San Antonio, TX 78212
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About this home
Urban living in Historic Monte Vista! This grand one-story, well into it's second century and listed in the National Register of Historic Places, is one of the oldest structures in the neighborhood. An expansive wrap-around front porch with swing lets you enjoy the vibrancy of this thriving historic and entertainment district. Mere blocks from all the popular dining spots that make Monte Vista a "destination!" The home is full of towering seven foot windows, interior glass doors and high transoms. The living room has a window-lined "bump out," offering cozy seating and a view of the tree-lined avenue. A unique double fireplace lends ambience to both the living and formal dining areas. The kitchen is large, bright and open, overlooking a New Orleans-styled bricked courtyard. (Kitchen IS plumbed for gas cooking!) Secondary bath is updated with separate shower and Japanese soaking tub. And if all of that is not enough, there is a charming three-room apartment above the detached two-car garage. Opening to a spacious deck and perched in the tree canopy, this "treehouse" features a living area, bedroom, bathroom, and bright, cheery kitchen lined with windows. Tremendous long or short-term rental opportunities. Two car garage plus extra off street parking in the oak-lined driveway. EASY BIKE RIDE TO THE PEARL!
Source: SABOR #1912642
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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