FHA Assumable Rate that can save you hundreds in your monthly payment. Immaculate and thoughtfully upgraded, this stunning residence shows beautifully and is ideally located in the sought-after lifestyle community of Steele Creek, where modern design meets everyday convenience. Situated on an 0.23-acre lot, The Hondo floor plan is a beautifully designed two-story home offering 2,702 square feet of living space with 4 bedrooms and 3 bathrooms-the perfect layout for comfort and flexibility. Step through the inviting entry into a spacious living room that flows effortlessly into a dedicated home office, ideal for working or studying from home. A private hallway off the living area leads to two secondary bedrooms, each featuring walk-in closets, and a full bathroom. The open-concept kitchen and dining area create the heart of the home, showcasing granite countertops, stainless steel appliances, a walk-in corner pantry, and a generous island perfect for meal prep or casual gatherings. The private main suite, tucked away off the kitchen, is a true retreat-complete with dual vanities, a walk-in shower, separate garden tub, and a spacious walk-in closet. Upstairs, you'll find a versatile loft, a full bathroom, and an additional secondary bedroom with walk-in closet, offering flexibility for guests or a media space. Designed for today's lifestyle, this home includes Home is ConnectedTM smart technology, allowing you to control lighting, thermostat, and locks directly from your smartphone. Additional premium features include 9-foot ceilings, 2-inch faux wood blinds throughout, pre-plumbing for a water softener, full-yard irrigation, Radiant Barrier roof decking, and a 3 car garage making the additional 3rd a great home gym. With its blend of comfort, technology, and timeless style, this home perfectly embodies modern living in the vibrant Steele Creek community. Located in the Schertz-Cibolo-Universal City ISD and walking distance to Steele High School. Convenient to Randolph AFB, Fort Sam Houston, shopping, dining, and major entertainment. This home is still under the builder's 10-year structural warranty, which transfers to the new owner for added peace of mind. As part of a vibrant master planned lifestyle community, residents enjoy resort-style amenities, including a 24/7 fitness center, swimming pool, splash pad, playground, picnic area, basketball court
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.
