Welcome home to 4911 Ranahan Pass. Located in the Asher Place community, you are near Randolph AFB, Ft Sam Houston, SAMMC, and 20min from downtown San Antonio. This 3 bedroom 2 bath plus office is ready for new owners. A Stunning kitchen boasting granite countertops, bountiful cabinet space, kitchen island with breakfast bar, subway tile backsplash, Moen faucet with pull down sprayer, stainless steel energy star appliances, refrigerator conveys, canned lighting, and pantry. The kitchen is open to the dining and living area with an abundance of natural light Large primary bedroom with raised ceiling, fan, and bay windows. Primary bath with stand up tile shower, his/hers sink, linen closet, private commode, and walk in closet. Secondary bedrooms are well appointed with ceiling fans and spacious closets. Secondary bathroom separates them with tile shower/tub combo. This home features a great backyard including covered patio, gas line to set up your outdoor kitchen or fire pit, newer storage shed, and privacy fence. Built by Meritage homes in 2020, known for their energy efficient homes, you have spray foam insulation in exterior walls and roof, programmable thermostat, double pane low E windows, mechanical fresh air, drought tolerant plants, and more. Added highlights of this amazing home include built in-wall pest control system, 4 sided masonry exterior, water softener system, video doorbell, and NO CITY TAXES with a rate currently under 2%. The neighborhood has a private park sitting on a hill that is one of the highest points in the area giving it a spectacular view for fireworks on New Years and the 4th of July. There is also covered picnic area with restrooms, jogging trail, playground, and a resort style pool. Feeds to award winning Schertz Cibolo Universal City ISD schools with a number of charter schools nearby.
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.
