Motivated Sellers...37K+ Price Improvement!!! Premier Luxury home w/pool just in time for the San Antonio Hot Spring/Summer. Welcome to The Reserve at Schertz, a premier community located just outside of San Antonio where you can enjoy a slower pace away from city life but still have easy access to shopping, dining and entertainment areas. Randolph AFB is about 10 minutes away, Ft. Sam Houston less than 20 minutes and Lackland an easy 35 minute. This community is also a stone's throw away from I-10 making even the drive to Houston a delight if/when you're seeking those big city vibes. Inside, this immaculately maintained 2020 built, 2,431 square foot home, more than holds its own with an open floor plan that appeals to all of the senses. As you enter into the home, your eyes are immediately drawn to the custom tray ceiling overlooking a spacious foyer which leads to the family room adorned with an abundance of natural light. The very generously apportioned kitchen is equipped with stainless steel appliances including a double oven for those large family gatherings. The primary suite feels like its own personal retreat, with its separate shower and tub along with a large walk-in closet. The secondary bedrooms are oversized, ideal for guests, kids, or more permanent family members. But wait there's more. Not to be outdone is the backyard, complete with an inground pool, playscape, separate fire pit area and still more room to expand. Finally, there is another "unmentioned" room (but you will have to see it for yourself) which speaks to the builder's attention to detail using all available space to make this home seem even larger than it is. Don't miss the opportunity to make this dream property your own! Schedule your showing today!
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.
