This Home Has Undergone a Remarkable Transformation! See last pictures for new flooring. One Previous Owner! Upon entering, you'll discover a versatile bedroom or flex space that can adapt to your needs. This room connects to an adjoining area, creating a spacious layout that could serve as a mother-in-law suite, a bedroom, or an office! Its oversized dimensions offer endless possibilities! The second bedroom is part of this suite, separated by a full bathroom. As you move beyond this area, you'll find a generous living space that seamlessly flows into the fantastic kitchen! Get ready for ample room for the chef to whip up meals, entertain guests, and savor culinary delights! A skylight enhances the ambiance, while the eat-in kitchen stands out with a bar that provides plenty of space for stools. Next to this area is the spacious Owner Suite, featuring an ensuite bathroom with a double vanity and shower! Enjoy your morning coffee on the covered porch, situated on a tranquil street just moments away from the greenbelt. Fresh floors, new paint, and foundation repairs completed by a reputable foundation company come with a lifetime warranty. An engineer's report was conducted, and all necessary corrections have been made. Everything has been tested and is ready for you! This neighborhood offers walking trails, a pool, an amenity center, a playground, and a catch-and-release pond. The award-winning HOA hosts numerous events for residents to enjoy. Plus, the home is equipped with outdoor plumbing for a gas grill! With convenient access to I-35, 114, and Fort Worth, along with toll roads leading to Dallas, you'll be close to dining, shopping, and the new HEB! The elementary school is conveniently located within the neighborhood, alongside ILT! Don’t miss out on the chance to make this exceptional home yours in a fantastic community! All square footage is derived from tax records.
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.
