This house is all about location! In booming Far West side of SA. Top rated Northside ISD. Walking distance to the elementary school. Just 4 houses down from the pool. A couple of blocks from HEB (if you don't know what that is you're in for a treat!) 20 min commute to JBSA-Lackland. Tons of shopping and restaurants within a short drive. Home has a HUGE 1/4 acre lot. Perfect for a family w/ kids and fur babies. The fences are lined w/ tall trees giving you much desired privacy. Backs up to green belt making you feel like you're in the woods. Has cement patio, stone fire pit, and storage shed. Hard to find all this in a subdivision. Open concept main living area w/ kitchen, breakfast nook, and TV room w/ a view of beautiful back yard. BBQ connoisseurs dream custom stone grill and vertical smoker (retains heat extremely well making it very easy to manage). In case you didn't know, water in San Antonio is "hard." So the house comes with a water softener and reverse osmosis faucet in kitchen (save money not buying bottled water). Also comes with matching high end Kitchen Aid Commercial Style fridge, range, dishwasher, and microwave oven. And wait till you see the beautiful custom mesquite 8-foot bar top with a live edge! Front door has a security storm door installed. Master bedroom has huge over-sized walk-in closet (it's what sold my wife on the house). Recently replaced AC unit. Neighborhood great for cardio. Simple 2 mile straight route (half uphill) to get you ready for your Fitness Assessment. We're a military family and made many great memories here with our kids. Currently tenant occupied since 2019, so VERY serious buyers only. Willing to offer a seller concession for any required maintenance like replacing carpet upstairs. Open to Lease-Option terms and VA assumable loan (currently a fixed rate).
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.
