*** FHA Assumable Loan @ 4.75 *** While most buyers are financing at 6.25 or higher, this home comes with an existing FHA Loan at 4.75 - nearly 1.5 full points below current market rates. If you're a qualified buyer and can assume this loan, you're getting a payment isn't available anywhere else at this price point. This 2021 D.R. Horton home is located in the Kendall Brook community in Converse, TX. A single-story home with 3 bedrooms, 2 full baths, a 2-car garage, and 1,644 square feet of well-designed living space. Everything in this home is under five years old - roof, HVAC, water heater, and appliances. No deferred maintenance. No big-ticket surprises waiting for you after closing. Luxury vinyl plank flooring runs through the main living areas. The kitchen has granite countertops, stainless steel appliances, and a center island. The layout flows naturally from kitchen to living area making everything feel open and bright. One of the largest lots in Kendall Brook. The covered patio is ready for entertaining, grilling, or just enjoying a quiet evening outside. It's private and functional in a way that makes outdoor living feel like part of the home. A 2-car garage adds everyday storage and convenience. Kendall Brook residents have access to a community pool, basketball court, and neighborhood park. Only minutes from JBSA-Randolph and Fort Sam Houston, this home is the perfect opportunity for military families looking for something move-in ready and zoned to Judson ISD. Seller will consider all offers. Please independently verify all room dimensions, school assignments, HOA details, and FHA loan assumption eligibility and terms. Assumption subject to lender approval.
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.
