Creating a welcoming space for relaxation and entertainment. Imagine the possibilities for gatherings and quiet evenings in this beautifully designed area. Step outside to discover your private oasis, boasting a fenced backyard, a patio, a private pool, an in-ground hot tub, and a fire pit. This outdoor living space is ideal for entertaining or simply enjoying the beautiful Texas weather. This luxurious residence offers a unique opportunity to embrace the ultimate in San Marcos living. Here are the list of improvements: Built-in 5.1 Surround Sound Klipsch speaker system in Family Room Built-in 13.1 Dolby Atmos Klipsch speaker system in Media Room Automated smart light switches throughout most of the house AvertX 10-camera security surveillance system (8 cameras covering entire perimeter, 2 inside covering entrances) Gemstone lighting installed around all fascia as well as landscape lighting Massive 38,000 Gallon pool and spa in the backyard Concrete walkway along the side to the front of the home. 18 kW Solar system - half installed on a ground mount at the very back of the yard and the rest installed as roof shingles Tesla Powerwall battery backup for the entire home (3x Powerwall batteries with gateway) Brand new roof with a 10 year warranty installed last year Tesla charger and 2x 50 amp outlets installed in the garage for EV charging Kinetico quad water softener / carbon filter system for entire home Kinetico K5 RO water filtering systems installed in the kitchen and wet bar in upstairs game room Renewal by Andersen windows installed throughout the house - all windows replaced with a 20 year warranty High quality LG appliances (Refrigerator, Washer, and Dryer) included All other appliances in the kitchen are high quality upgraded KitchenAid appliances Total of 4 Ecobee smart-thermostats Tankless water heaters In-home central built-in vacuum system 2x 150+ year old heritage oak trees in the back and front side of the 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.
