Welcome to 10616 Whitney Trace A beautifully updated & move in ready home in the highly desirable Lakeland Meadows Community & China Spring ISD. This thoughtfully improved property offers comfort, functionality, & modern style throughout. It boasts a thoughtful floor plan & spacing complete with 4 bedrooms, 3 full bathrooms. Step inside to an inviting open floor plan featuring newer vinyl plank flooring across the main living areas & bedrooms. A cozy wood-burning fireplace anchors the spacious living room, creating a warm atmosphere perfect for relaxing or entertaining. The updated kitchen shines with quartz countertops, a porcelain farmhouse sink, stainless steel appliances, ample cabinetry, a large countertop peninsula offering ample prep space & a seamless flow into the dining & living spaces. The isolated primary suite is a true retreat, oversized & private, with two walk in closets, dual vanities & a large stand up shower. The primary suite can easily accommodate oversized or large furnishings. The remaining secondary bedrooms are split. There is a private bedroom and bath located opposite of the master. Just across the living room you will find the other secondary bedrooms & full bathroom. Outside, the backyard is ready for fun, work, & relaxation. Enjoy an above-ground pool making this yard perfect for hot summer days. There is a 10x14 shop with additional concrete patio or workspace complete with electric. The yard also has a playhouse, dog run, & a newer privacy fence with side gates on each side. The back patio is a perfect place to unwind complete with a pergola offering a shady area spacious enough for an outdoor living room. The front & backyard is complete with an inground sprinkler system making yard maintenance a breeze. The exterior features fresh paint, newer roof, & a convenient extra concrete parking pad. Perfect for a small RV, boat or storage for trash bins. Don’t miss your chance to make 10616 Whitney Trace your home!
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.
