Search Boerne Homes with an Assumable Loan
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Boerne and Fair Oaks Ranch Homes Marked Assumable on the MLS
Welcome to your dream home nestled in the heart of Texas's proudly awarded "Overall Best Community", Esperanza. This exquisite 4-bedroom, 3.5-bathroom luxury residence st...
- 4 Beds
- 4 Baths
- 2012714 MLS
- ACTIVE Status
Set within the prestigious gated community of Waterstone, this remarkable 3,883-square-foot estate rests on 4.96 scenic acres, offering an exceptional blend of elegance, ...
- 4 Beds
- 3 Baths
- 2011546 MLS
- ACTIVE Status
Nestled within the highly sought-after gated Estate Section of Fair Oaks Ranch, this stately and impeccably maintained residence offers an exceptional blend of luxury, co...
- 6 Beds
- 4 Baths
- 1999169 MLS
- ACTIVE Status
PRICED TO SELL!! 2.8 assumable loan for qualifying veterans & active duty military!! Welcome to Herff Ranch. One of THE most desirable and friendly neighborhoods in Boern...
- 5 Beds
- 3 Baths
- 1995141 MLS
- ACTIVE Status
Charm abounds and creativity thrives in this Oak Park Bungalow! Located on an incredible corner lot in a highly desirable, walkable neighborhood this Boerne classic showc...
- 3 Beds
- 1 Baths
- 1973266 MLS
- ACTIVE Status
IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect participants and/or the MLS from liability. 
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Homes in Boerne with a VA Assumable Loan
Some Boerne and Fair Oaks Ranch sellers have a VA or FHA mortgage that a buyer can take over, often at an interest rate far lower than what a new loan costs today. The homes above are listed on the MLS in ZIP codes 78006 and 78015 with an assumable loan, updated automatically. Below is how a VA loan assumption works, what it costs, and the one thing that surprises most buyers: the cash you need to cover the gap between the loan balance and the price.
Good to know: the MLS marks a listing as assumable but doesn't always say which kind of loan it is. Most assumable loans are VA or FHA. Before you fall in love with a house, I'll find out the loan type, interest rate, remaining balance and the servicer's requirements. Contact Charley or call or text 210-478-8555.
Using your own VA loan instead? See all Boerne homes that accept a VA loan, where the seller has marked VA financing as accepted on the MLS.
What Is a VA Loan Assumption?
When you assume a VA loan, you take over the seller's existing mortgage: the same interest rate, the same remaining balance and the same remaining term. Instead of starting a new 30-year loan at today's rates, you step into the seller's loan. You don't have to be a veteran to assume a VA loan. Veterans and non-veterans can both qualify, as long as they meet the loan servicer's credit and income requirements.
The Benefits
- A lower interest rate. Many VA homeowners locked in rates well below today's. Veterans United reports that about 72% of VA homeowners have a rate under 5%.
- A lower monthly payment. On a $400,000 balance, principal and interest is about $1,686 a month at 3%, compared with about $2,528 at 6.5%. That's roughly $840 a month, or more than $10,000 a year (example rates, not a quote).
- Lower closing costs. An assumption skips much of a new loan's origination costs. The VA funding fee on an assumption is 0.5% of the loan balance, and veterans who are normally exempt from the funding fee are exempt here too.
- No required appraisal for the assumption itself, although I usually recommend one so you don't overpay for the equity.
The Catch: You'll Need Cash for the Equity Gap
You can only take over what the seller still owes. The difference between the remaining loan balance and the price of the home is called the equity gap, and you have to cover it, usually in cash at closing.
| Purchase price | $600,000 |
|---|---|
| Seller's remaining VA loan balance (at 3%) | $400,000 |
| Equity gap you bring to closing | $200,000 |
| VA funding fee (0.5% of $400,000) | $2,000 |
Some buyers cover the gap with savings or the proceeds from selling another home. Others use a second mortgage, but not every servicer allows it, and a second loan at today's rates will offset some of the savings. Homes that were bought or refinanced more recently tend to have smaller equity gaps. I'll run the real numbers on any home you're considering so you can compare an assumption with a new loan side by side.
Quick rule of thumb: the bigger the gap between today's rates and the seller's rate, and the smaller the equity gap, the better an assumption works for you.
Steps to Assume a VA Loan
- Find an assumable home. Start with the listings on this page, or ask me to watch for new ones. Many sellers don't advertise it, so it's worth asking.
- Confirm the loan details. Get the loan type, rate, remaining balance and servicer. VA and FHA loans are generally assumable; most conventional loans are not.
- Line up the equity gap. Know how you'll cover the difference between the balance and the price before you make an offer.
- Make an offer that's contingent on the assumption. Your contract should spell out the assumption and what happens if the servicer doesn't approve it.
- Apply with the loan servicer. The servicer (and, for some loans, the VA) reviews your credit, income, debt-to-income ratio and assets, much like a regular loan.
- Close. Pay the equity gap, the 0.5% funding fee and any servicer processing fees. Assumptions often take 45 to 90 days or more, longer than a typical 30 to 45 day closing, so plan your timeline accordingly.
For Sellers and Veterans: Protect Your Entitlement
If you're a veteran selling a home with an assumable VA loan, your VA entitlement stays tied to that loan until it's paid off, unless the buyer is an eligible veteran who substitutes their own entitlement. Ask for a written release of liability as well, which is separate from the entitlement question. Selling to a qualified veteran who substitutes entitlement frees up your full benefit for your next home. Buyers and sellers should talk with the loan servicer and a VA-approved lender before signing.
Why Boerne and Fair Oaks Ranch?
San Antonio is Military City USA, and Boerne and Fair Oaks Ranch are a short drive from JBSA-Camp Bullis and the I-10 corridor. That means a good share of homeowners here bought with VA loans, many during the low-rate years, which makes this area a better-than-average place to find an assumable loan. Many of these homes are also zoned to Boerne ISD. See all Boerne homes for sale, Fair Oaks Ranch homes for sale or Boerne homes that accept a VA loan.
VA Assumable Loan FAQ
Do I have to be a veteran to assume a VA loan?
No. Veterans and non-veterans can both assume a VA loan if they meet the servicer's credit and income requirements. Only an eligible veteran can substitute their entitlement, which frees up the seller's VA benefit.
How much cash do I need to assume a VA loan?
You need enough to cover the equity gap, the difference between the price and the seller's remaining loan balance, plus the 0.5% VA funding fee (unless you're exempt) and closing costs. On a $600,000 home with a $400,000 loan balance, the equity gap is $200,000.
How long does a VA loan assumption take?
Plan on 45 to 90 days or more. The loan servicer controls the timeline, and it is usually longer than a standard purchase.
Is every VA or FHA loan assumable?
VA and FHA loans are generally assumable with servicer approval, and most conventional loans are not. Always confirm the loan type, rate and balance with the seller's servicer before relying on an assumption.
Does the seller lose their VA entitlement?
The seller's entitlement stays tied to the loan until it's paid off, unless the buyer is an eligible veteran who substitutes their own entitlement. Sellers should also get a written release of liability.
» Ask Charley about an assumable home or call or text 210-478-8555.
Sources: Veterans United: VA loan assumption, VA Loan Network: release of liability, MilPayTools: VA loan assumptions explained. This page is general information, not lending advice. Rates, fees and requirements are set by the VA and each loan servicer and can change; confirm the details with a VA-approved lender.
Charley Wasson is a full-time REALTOR® with Sunflower Real Estate specializing in Boerne, Fair Oaks Ranch and the greater Texas Hill Country. He has more than 300 documented MLS transactions and over $121 million in closed sales, is a five-time Platinum Top 50 San Antonio REALTOR®, and has a career 98% customer satisfaction score. Call or text 210-478-8555.