Tucked beneath mature trees in the heart of Terrell Heights, this charming 3-bedroom, 2-bath cottage-style home offers timeless character just minutes from Downtown San Antonio. Situated on a beautifully manicured lot, the home welcomes you with inviting curb appeal and a spacious covered front porch perfect for relaxing mornings or evening conversations. Inside, you'll find a light-filled interior with rich hardwood floors, crown molding accents, neutral designer tones, and a seamless flowing layout ideal for both entertaining and everyday living. The main living area opens effortlessly to the dining space, creating a warm and inviting atmosphere throughout. The kitchen features granite countertops, abundant white cabinetry, stainless steel appliances, and gas cooking, blending style and functionality. Just beyond the kitchen is a versatile second living area complete with Saltillo tile flooring, ceiling fan, and direct access to the private backyard retreat. The spacious primary suite offers a private en-suite bth with a walk-in shower and pedestal sink, while two additional bedrooms share a well-appointed guest bath. Step outside to enjoy the peaceful backyard oasis with mature shade trees and plenty of room for a fire pit, garden, hot tub, or playscape. The back patio creates the perfect setting for entertaining or quiet evenings outdoors. Additional highlights include a whole-home water softener, reverse osmosis system, transferable lifetime foundation warranty, fresh interior and exterior paint, updated windows, and a roof replaced in 2020. Washer, dryer, refrigerator, and playscape all convey with the sale. Ideally located less than 10 miles from Downtown San Antonio and within walking distance to McNay Art Museum, local coffee shops, and neighborhood dining. Conveniently positioned near shopping, grocery stores, and entertainment while zoned to highly regarded Alamo Heights Independent School District. Come experience the charm, character, and lifestyle this Terrell Heights gem has to offer.
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
