7103 CAPRICORN WAY, Converse, TX 78109
Gorgeous drive up gives way to a stunning, 4-bedroom, 3.5 bath which sits on a cul-de-sac in the highly desirable Horizon Pointe Subdivision in the Converse, Texas area, just minutes to downtown San Antonio and conveniently located to Joint Base San Antonio Fort Sam Houston Army Base and Randolph Air Force Base. With space for everyone, this elegant single-family home has everything you need to make memories that will last a lifetime. At first glance, the immaculate property sits on 1/4 acreage with a brand new 9-month-old, updated roof and a sun-filled yard surrounded by meticulously groomed mature trees. Upon entrance, you are warmly greeted by high end floors, high ceilings, oversized windows and a floor plan seamlessly connecting the elegant main living room to the gourmet kitchen fit for a chef's dream. Meticulous attention to detail is presented in the kitchen with a Jenn Aire stove that has gas & electric connections, stunning granite countertops, kitchen island and ample cabinet and countertop space with customized backsplash. Adjacent to the living room, there's a cozy family room with a captivating stone-faced natural gas fireplace leading to the oversized master bedroom with a bay window and sitting area overlooking the backyard with a walk-in closet and master bath fit for a Queen. On the second level, you'll find another full bathroom and three additional bedrooms for ultimate flexibility for your family. At the heart of the home you'll find a media room to entertain friends and family for years to come. The room is fully wired for surround sound, is custom built for stadium seating, has remote control lighting and remote-controlled custom blackout curtains and has a built-in bar area that includes space for a refrigerator. The spacious backyard is one of the largest lots in the subdivision and has fruit trees and provides plentiful space for gardening and entertaining and has a custom built screened in porch that wraps around the length of the back of the home for relaxation, family time or to sit and daydream about future plans for that in ground swimming pool. As the ultimate convenience, the yard backs to the desirable James L. Masters Elementary and also has a beautiful custom shed built on site.
You may be able to put down less than the total down payment amount of $188,799 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
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: #1797033
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.