25618 ECHO MTN, San Antonio, TX 78260
Free, 1-year interest rate buy-down with preferred lender and 5k lender assistance. ASK ABOUT THE 3.25% VA ASSUMABLE LOAN! Your next chapter. Your next home. Your next escape. Imagine this: Sitting on over 3/4 of an acre of land, and offering stunning views of the Hill Country is a 5 bedroom, 1 office, and 3 .5 bath home with an upper balcony off of the front 2 bedrooms, and a deck off of the dining room both providing a spectacular view of the Hill Country. With oak cabinets throughout the home, the kitchen is equipped with a suite of KitchenAid appliances as featured in HGTV's Dream Home. Get inspired by the built-in oven, microwave, and electric cooktop allowing you to whip up your favorite meal easily. Hardwood floors in the primary bedroom and the office speak to sophistication and great design style. Imagine a large walk-in shower, walk-in closet, and a view of rolling hills greeting you as you rise in the morning. There is a second, custom walk-in closet that includes built-ins that are easily removed to return the room into a bedroom. Imagine, a whole room of closet space! An expansive front porch, balconies from the front 2 bedrooms, a deck, tile roof, and mature trees grace the landscape of this park-like backyard. It is a prestigious estate that rests on one of the highest hilltops in Bexar County. As if the views are not enough, you will easily fall in love with this home- It's more than just a home; it's a lifestyle choice for those seeking elegance, comfort, and the best of both worlds.
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #1756931