611 Barrett Pl San Antonio, TX 78225
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About this home
Welcome to this 1920's gem brought back to life! This home offers a VA Assumable Rate! It has stunning 12' ceilings throughout the home. This gorgeous home with detached 351 sq.ft. 1/1 CASITA is minutes from Downtown San Antonio and is freshly painted, move-in-ready! This home offers the perfect blend of comfort, convenience, and charm! Property Highlights: Fully renovated home with 4 Spacious Bedrooms & a flex room or space ideal for office, 3 Full Bathrooms - Perfect for families of all sizes | Upstairs Loft - Ideal for guests, or a home office, or theater room for cozy movie nights | 1 Detached Casita with (1 Bed / 1 Bath) - Fully equipped with all amenities, making it perfect for in-laws, guests, or rental income potential Home hacking renting/ Air Bnb extra income or multi generational living | Beautiful Front Porch - Enjoy morning coffee or relax in the evening breeze. The primary bedroom has an extra large walk-in closet with a double vanity in the primary bathroom. All the bedrooms are large and spacious. There is plenty of space for guests with two eating areas, a mobile island and a breakfast bar in its extra-large kitchen. It also has an oversized laundry room that can be used as a walk-in pantry as well. This home is also in a PRIME LOCATION! Just minutes from Downtown San Antonio & easy access to major city highways offering quick access to shopping, dining, and entertainment! Don't miss out on this rare find and make this dream home yours! No FHA Loans.
Source: SABOR #1840527
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.