***VA Assumable loan with a 2.625 interest rate available to a qualified VA buyer***. Nestled on a quiet cul-de-sac lot in the highly sought-after Redbird Ranch community, this meticulously maintained two-story residence offers an exceptional blend of space, style, and modern comfort. Boasting 2,642 square feet and located within the acclaimed Northside Independent School District, this beautifully updated home is designed to impress at every turn. Step inside to discover an inviting open-concept layout filled with natural light from expansive windows. The main living areas flow effortlessly, anchored by a spacious family room and complemented by a separate dining room-perfect for both everyday living and entertaining. The kitchen is a true centerpiece, featuring stainless steel appliances, gas cooking, tile backsplash, and a large island with additional seating. This home is enhanced with thoughtful upgrades, including a two-tank Waterman water softener system and a reverse osmosis filtration system in the kitchen, delivering both convenience and elevated living. Improvements such as interior paint, updated bathroom light fixtures, a freshly painted exterior patio, and a stained fence add to the home's polished appeal. The main-level primary suite provides a private retreat, complete with large windows and a spa-like ensuite bath featuring a garden tub, separate shower, dual vanities, and a spacious walk-in closet. Upstairs, you'll find four generously sized secondary bedrooms, two full bathrooms, and an expansive game room-ideal for relaxation or recreation. Outdoors, enjoy a covered patio overlooking a private backyard equipped with a full sprinkler system, rain gutters, and a privacy fence, offering both comfort and ease of maintenance. Ideally located near JBSA-Lackland, SeaWorld, Six Flags, premier shopping, dining, and major highways, this exceptional home delivers the perfect balance of luxury, functionality, and prime location.
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.
