Move in ready 3 bedroom 2 bathroom ranch home in Carrollton located in the Central School District and set on almost an acre in a quiet and established neighborhood. Buyers searching for a 3 bed 2 bath home in Carrollton will appreciate the comfortable layout, updated interior, and the potential this property offers. The living area is spacious and welcoming with natural light and room to gather. The kitchen connects easily to the dining area and overlooks the backyard. All three bedrooms are well sized and the bathrooms have been updated for a clean and modern feel. Recent improvements include a newer roof, new HVAC, fresh interior paint, updated bathrooms, and laminate flooring throughout. A clear termite letter provides added peace of mind. The full unfinished basement is a major bonus that adds storage space along with room for tools, hobbies, or future finished living space. The backyard is private and usable with space for outdoor living, pets, or gardening. Covered parking and an extended driveway offer convenient parking and storage. There is no HOA which gives buyers more flexibility. This home is a strong fit for first time buyers, families, downsizers, or investors who want a move in ready home in Carrollton with room to grow. Homes in the Central School District with this combination of updates, basement space, and land are difficult to find in this price range. Schedule your showing today and experience the value this home offers. $500 Buyer Credit! Ben Waldrop with CrossCountry Mortgage is offering $500 to buyers who choose him as their lender! A solid home with big upgrades, plenty of space, and a great buyer incentive-come see what makes this one stand out!
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.
