VA ASSUMABLE LOAN AVAILABLE TO QUALIFYING BUYERS AT 4.625%. Spacious, 3060SF, 4-bedroom, 2.5-bath, 2-car garage Meritage energy efficient home offers the perfect blend of modern efficiency and versatile living space. With an open-concept design the main level boasts an inviting flow between the large eat-in kitchen and living area, perfect for hosting friends and family. There is a separate formal dining space adjacent to the kitchen for quiet romantic dinners or lively dinner parties. Enjoy a private first-floor primary retreat with a large walk-in closet and en-suite bath, away from the secondary bedrooms, which are all located upstairs alongside the common entertainment areas. A dedicated downstairs office provides the quiet space needed for remote work or study. This energy-efficient homes not only will save on your monthly budget but are a lifesaver during a Texas summer. MacArthur Park Subdivision is a desirable community especially for military families needing a quick commute to JBSA-Randolph or Fort Sam Houston. Residents are less than 5 miles from The Forum at Olympia Parkway, one of the area's premier retail destinations and have quick access to Loop 1604 and I-35. Living near The Forum is a huge plus for errands, grocery shopping, and grabbing a bite to eat. This home represents a lifestyle of comfort and convenience in a rapidly growing San Antonio suburb. Interior Highlights * Dual Flexible Living Areas: There is a first floor living room, then the second-floor features a spacious game room and a versatile loft, providing separate zones for a home theater, gym, playroom or even a dual-office setup. * Nice Sized Kitchen & Upgraded Baths: Premium granite countertops are featured in the kitchen and all bathrooms, paired with high-end finishes for a cohesive, modern look with the kitchen featuring an oversized island. * Smart Flooring: Durable, easy-to-clean tile floors span the high-traffic downstairs areas, while plush carpeting provides a quiet, cozy feel for the upstairs bedrooms, game room and loft. * Energy-Efficient Living: Built with Meritage Homes' signature features, including spray-foam insulation, Low-E windows, and ENERGY STAR appliances to keep utility bills low even in the Texas heat. In 2024 Meritage Homes had been named ENERGY STAR Partner of the Year for the 11 consecutive time. Exterior Highlights * Covered Patio * Privacy Fenced Yard * Freshly Painted with transferrable 3-year warranty Community Highlights * Swimming Pool * Playground Area Education * School District: Schertz-Cibolo-Universal City ISD (SCUC ISD) * Elementary: Rose Garden * Middle Ray: D Corbett * High School: Samuel Clemens * CONFIRM ALL SCHOOL INFORMATION
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.
