OWNERS BUILT THIS HOME NEW AND ADDED MAX UPGRADES. HARDWOOD FLOORS IN ALL LIVING AREAS, TOP OF THE LINE CARPET AND EXTRA PADDING IN THE MASTER BEDROOM, UPGRADED TILE IN ALL BATHROOMS, CROWN MOLDING THROUGHOUT, UPGRADED GRANITE AND APPLIANCES, FLAGSTONE PATIO IN BACK AND FULL YARD SPRINKLER SYSTEM. THE DINING ROOM IS AT THE FRONT OF THE HOME AND COULD BE AN OFFICE IF YOU PREFER. LARGE LIVING WITH FLOOR TO CEILING STONE FIREPLACE FEATURING GAS LOGS. VERY OPEN FLOOR WITH KITCHEN, LIVING AND 2ND EATING AREA OPEN TO MAKE A HUGE ENTERTAINMENT AREA AS WELL AS THE ENCLOSED PATIO ADDING EXTRA SPACE. THE KITCHEN IS THE ENVY OF MOST CHEF'S WITH TOP-OF-THE-LINE APPLIANCES INCLUDING DISHWASHER WITH DRAWERS FOR BETTER CLEANING, STAINLESS STEEL GAS COOKTOP, RECENTLY INSTALLED OVEN, HUGE ISLAND WITH STAINLESS STEEL SINK AND BREAKFAST BAR, PLUS LARGE PANTRY TO TOP IT ALL OFF. THE MASTER SUITE IS HUGE WITH BEDROOM, ATTACHED SITTING AREA, LUXURY BATH FEATURING LARGE WALK-IN SHOWER, GARDEN TUB, DOUBLE VAINITY WITH GRANITE COUNTERTOP AND BIG WALK-IN CLOSET WITH AN ADDITIONAL CLOSET OUTSIDE BEDROOM DOOR. THE OTHER TWO BEDROOMS ARE BIG WITH LOTS OF CLOSET SPACE. THE OUTIDE ENCLOSED PATIO EXTENDS THE LIVING AREA WITH LOTS OF NATURAL LIGHT MADE FOR MORING COFFEE OR RELAXING AT THE END OF THE DAY. THERE IS A THREE CAR TANDUM GARAGE, PERMANENT STAIRS TO ATTIC PLUS AN ELECTRIC LIFT SO THE ATTIC IS USABLE FOR STORAGE. THE BACK YARD HAD 25K WORTH OF LANDSCAPING DONE TO INCLUDE FLAGSTONE PATIO, LANDSCAPING AND WROUGHT IRON FENCING ON BOTH SIDES. THE ENTIRE YARD FEATURES AN AUTOMATIC SPRINKLER SYSTEM AND BEAUTIFUL LANDSCAPING. ALL THIS AND ONLY MINUTES TO BOERNE, SAN ANTONIO, SIX FLAGS AND MUCH MORE.
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.
