Discover this beautifully designed home in Steubing Farm, built by the esteemed Meritage Homes in 2020. This exceptional property radiates elegance and efficiency, having been meticulously cared for by its original owner. Spanning 2,748 square feet, this two-story residence perfectly balances comfort and sophistication. Upon entering, you'll be welcomed by a spacious open floor plan highlighted by soaring ceilings and an abundance of natural light flooding in through expansive windows. The main level features a designated dining room or office that can easily be transformed into a second bedroom, perfect for remote work or quiet relaxation. The generously sized living room and dining space provides ample space for entertaining, complemented by a dedicated craft or study desk. The heart of the home is undoubtedly the chef-inspired kitchen, which boasts a large island ideal for meal preparation and casual dining. Equipped with stainless steel appliances, a pantry, gas cooking, and plenty of cabinetry, this kitchen combines style and practicality. The primary suite, conveniently located on the first floor, offers a luxurious escape with a spacious en-suite bathroom, dual vanities, and a walk-in closet. Three additional bedrooms and two full baths provide plenty of space for family and guests. The media room opens up a world of possibilities for movie nights or gaming, while the game room serves as a versatile second living area. Step outside to your personal paradise in the backyard oasis, featuring a generous covered patio that overlooks the greenbelt. It's thoughtfully designed to enhance outdoor enjoyment while leaving plenty of space for greenery and play areas. This home is equipped with numerous energy-efficient features, as well as a sprinkler system, water softener, and a spacious laundry room conveniently located on the main level. Situated in a gated community close to the University of Texas at San Antonio and the Medical Center, this home offers unparalleled convenience. Enjoy easy access to dining, shopping, and entertainment, with major highways like Hwy 1604 and I-10 just minutes away, making commuting effortless.
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.
