Welcome to 8 Trophy Lane, this 2,868 sf home sits on a corner acre lot, offering a detached guest home, in addition to the primary home. The entire home has a total of 4 bedrooms & 3 bathrooms. The primary residence:3 bedrooms & 2 bathrooms. The guest home: 1 bedroom & 1 bathroom with kitchenette. Located in the T Bar M Ranch Estates, between Highway 46 & FM 1863, near shopping, entertainment & downtown New Braunfels. With gated entry and resort style living, close to private amenities like pools & sports courts. With entrance porte-cochere, the home also has a driveway entrance to access the two separate garages. The house is complimented with several custom 6 ft windows, crown molding, and hard wood flooring in the main areas of the home. The entry allows you to move into either the TV room to the left of the foyer or formal living room/dining room to the right of the foyer. The TV room has built-in cabinets, drawers & showcasing shelves. The formal living room has an open floorplan & flows into the formal dining area. The kitchen has an abundance of custom cabinets, 4'x9'island with a deep sink and reverse osmosis system. Blending in with the cabinets are the subzero refrigerator & subzero freezer. Between the kitchen & the access to the garage is the laundry room with a sink, additional cabinets, ice machine, large storage room. The kitchen offers a great view and access to the backyard through windows that line across almost the entire exterior wall, with French doors that open onto the large, covered patio. The two secondary bedrooms are located on the left side of the house. The guest bathroom has access from the hall, as well as one of the secondary bedrooms. The master bedroom is located on the right side of the home, with 2 walk in closets, walk in shower, & dual sinks with a private patio entrance. The guest house/mother-in-law suite. This separate living space is connected to the main house by a covered breeze way. This home is turnkey & ready to show.
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.
