229 Terramar Cibolo, TX 78108
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About this home
This residence features four bedrooms and three bathrooms, providing ample space for comfortable living. The kitchen and family room are at the heart of the home. The primary bedroom has dual vanities, spacious walk-in closet and separate tub and shower, and a second bedroom with full bath – perfect for an in-law or guest suite. The living room offers a warm and inviting atmosphere, anchored by a fireplace that promises cozy evenings and memorable gatherings. The kitchen is a culinary dream, featuring custom cabinets, 5-burner cooktop and double ovens, a large kitchen island perfect for gathering around. The three-car garage offers plenty of room for vehicles and storage. Enjoy outdoor living on the patio, within the privacy of a fenced backyard. Included are energy efficient features such as a 16 SEER Carrier AC, double-pane windows, and 30-year dimensional shingles. The open floor plan enhances the sense of space and light throughout the home. A laundry and mud room adds convenience to daily routines. This home is an opportunity to experience elevated living in a home crafted for both style and comfort. Schertz-Cibolo Universal City Independent School District with convenient access to Randolph Air Force Base, Fort Sam Houston, Loop 1604, and I-35
Source: ACTRIS #1791137
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FAQs
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.
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