CHA-CHING! SAVINGS GALORE WITH THIS GORGEOUS SINGLE STORY WITH TESLA SOLAR/POWERWALL TO SAVE ON UTILITY BILLS, NEW ROOF TO SAVE ON INSURANCE, USDA FINANCING ELIGIBLE FOR ZERO DOWN PAYMENT AND ESPECIALLY LOW PROPERTY TAX RATE!!! Too good to pass up, this open floor plan with two primary suites is located right off 1604 at Potranco in one of the area's most sought-after subdivisions -- Trophy Ridge -- right next to all the fresh conveniences of new stores and restaurants popping up every day in this developing area. Pull up to an elegant limestone and brick facade where the evidence of pride of ownership is evident from the street with widened driveway, stamped concrete walkways, thoughtful landscaping and well-constructed stone flower beds. Inside, be amazed by the dramatic foyer and 10 foot high ceilings that usher you into the open kitchen, dining and living. This is no ordinary home. Entertaining and every day living are both easy to imagine here. Gas cooking, a large island with seating, sleek granite countertops and 42" dark wood cabinetry present a space both functional and visually stunning. The adjacent dining space flows easily into the expansive living room so no one ever gets left out of a conversation. The primary suite is tucked back for privacy and is a true retreat with ensuite bath--long double vanity, walk in shower and huge walk-in closet. It offers a lovely view of the backyard space which has been customized to a tee. A covered patio has been extended with decking for barbeque grilling or open outdoor activities. Stamped concrete walkways make everything easier out here, along with a firepit circle for those lovely South Texas nights. An attractive shed is large enough to house all your yard toys and tools. Back inside, at the front of the home, find a second primary retreat, with full bath, including modern, tall vanity and walk-in shower, ideal for visitors or multi-generational living. Two other nicely sized bedrooms with good closets share a well-appointed bath that is also accessible to guests. With a tiled surround tub/shower combo and solid surface vanity, it is both classy and convenient. The indoor laundry room is set off as its own room (not pass through to garage) which is often requested and not often found. Often an after-thought, this attached two-car garage is something else -- it is where many of the home's treasures live, including the Tesla PowerWall Now this is something to really brag about. If you want to pay nearly nothing on energy bills, earn power credits, and never lose power then look no further. You will be envy of the neighborhood. The solar conveys with the home at no additional cost to you. A newer, top-of-the-line 4 ton HVAC unit also plays a role in your comfort in knowing a major mechanical item will last you years. Add a tankless water heater for non-stop hot water, a water softener and a reverse osmosis system to make this the home that checks all the boxes! Check with your insurance to see what this Class 4 roof will save you in premiums! With an anchor elementary school and excellent amenities (including pool, sports courts and playground), Trophy Ridge is always on the top of every buyer's wish list and the sellers love their neighbors so much they hate leaving it. Enjoy the many activities the HOA plans for residents. It is uber convenient to the Hyatt Hill Country Resort with its 'beach', Seaworld and just a small drive to the fun downtown at the Riverwalk and Southtown. Being just 15 minutes to Lackland AFB and an easy commute to UTSA and the Med Center is another important consideration! This is a one-of-a-kind house, so don't wait to see it before someone else calls her home.
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.
