Discover the comfort of this exquisite four bedroom, three bath home nestled in the beautiful Eagles Bluff subdivision. You will step inside an updated, versatile floor plan designed to accommodate a variety of lifestyles and excellent for entertaining. The heart of the home is the spacious living area, leading to the expansive breakfast room that can also be a second living area, drenched in natural light and a seamless flow through kitchen to formal dining, or formal living area. So many living area options. Huge breakfast room area could be a second living area. The gourmet kitchen boasts sleek granite countertops, breakfast bar, ample cabinetry, refrigerator, wine refrigerator, and instant hot water. Updated primary suite offers large shower and walk in closet. The property's exterior is equally impressive with updated lush landscaping and sprinkler system that enhances it's curb appeal and offers a peaceful outdoor setting. The backyard is a haven for relaxation, featuring a patio area perfect for morning coffees or evening sunsets, along with a Plunge pool, which is for relaxation, rehabilitation, or cooling off during the hot summer days. Addl updates include paint, flooring, appliances, ceiling fans, wood burning stove, generator, HVAC, roof and more. The spacious three garage is a man's haven, featuring insulated garage doors, storage and high end RaceDeck flooring for floor protection. Eagles Bluff Country Club area at Lake Palestine is a top golfing community offering a new Golf Performance Center. The community also offers winding sidewalks for outdoor exercise, an active Club with excellent dining, events and music, a golf pro shop, tennis, pickleball, swimming pool, workout facility and more.
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.
