Welcome home to this 5 bedroom 4 bath gem located in Briar Meadows. This unique find offers the space and charm of this quiet New Braunfels neighborhood. Conveniently located near I-35, you have easy Hwy. access to major amenities, top rated schools, and New Braunfels, or an easy commute to San Antonio and Austin. Built by Bella Vista, this Rockdale plan boast 3074 square feet with some unique personal design choices. Walk into the inviting foyer and feel the open floorplan with high ceilings and ceramic tile. The kitchen is the heart of the home and is perfect for entertaining with granite countertops and stainless steel appliances. Refrigerator, Washer and Dyer convey to complete the package! Spacious Primary is Downstairs with a beautiful bay window, large walk in closet and full bath with garden tub, double vanity and separate shower. One guest room and full bath, along with private study are downstairs as well. Perfect for a mother in law suite! The other 3 bedrooms and 2 bath (one which is a Jack and Jill) are upstairs. You will gave more than enough extra space with the additional oversized loft/game room. Get ready to make the backyard your own with endless landscape possibilities. Sprinkler System makes watering a breeze! And who doesn't want a three car garage? Don't miss this opportunity for the space you need and deserve!
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.
