Save $400+ per month in this beautiful solar-powered, enhanced home, NO CITY TAXES; with a brand new TRANE HVAC that is complemented by thick, energy-savings foam insulation. This home also includes BRAND NEW appliances: Whirlpool refrigerator, dishwasher, washer & dryer, water-softener, water-heater, and much more! Even the roof-gutters, extended patio, & shed are new, as well as the carpeting inside the house! This energy efficient home has a downstairs Master Bedroom, with a massive bathroom that includes a garden tub & stand-up shower, separated his/her vanity, and a HUGE walk-in closet. The downstairs has large office or flex room, and the granite-counter-kitchen sports extra seating, a breakfast bar, and all of it sits on a tile floor, making it easy for cleaning. The upstairs has a 2nd living room AND a massive movie/media room (that could be a 5th bedroom); along with three giant bedrooms with lots of closet space. With high ceilings and an open architecture, this home feels like a mansion! The covered patio outside has a ceiling fan, is equipped with shades, and the extended patio is perfect & large enough for your BBQ pit, smoker, grill, and extra picnic seating. With storage spaces throughout the house, an oversized two-car garage, and a shed in the backyard, there is plenty of space to maximize. Because you have direct access to 1604 W & HWY 90, you will NOT be sitting in neighborhood traffic. And guess what!? Home Depot, Target, gas stations, great restaurants, and night spots are all within walking distance! The neighborhood has a pool, playground, basketball courts, and is less than 10 minutes from HEB, Walmart, Costco, SeaWorld, Lackland AFB, the new VA in Westover Hills, hospitals, and so much more. With all this space, money-savings, and an ease of access to countless amenities, you will truly live like a Champion!
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.
