Move in ready and tastefully decorated, this beautifully kept 4 bedroom, 2 bath home offers approximately 2,033 square feet of thoughtfully designed living space in a desirable McKinney community zoned to highly rated Prosper ISD. A functional open floor plan creates an easy flow between the open kitchen, dining area, and oversized living room, making the space ideal for both everyday living and entertaining. The kitchen opens directly to the main living area and features a gas cooktop, luxurious 42 inch custom cabinets with crown molding and hidden hinges, an 8 inch stainless steel undermount sink, and a Moen one touch chrome faucet, creating a natural gathering space for family and guests. The private primary suite serves as a relaxing retreat, while three additional bedrooms provide flexible options for guest accommodations, home office use, or multi purpose living. Step outside to a beautifully landscaped backyard featuring drought tolerant plants and an inviting setting for outdoor dining, relaxation, or weekend enjoyment. Additional highlights include a Carrier 16 SEER Puron energy efficient heating and cooling system, Low E dual pane windows, radiant barrier roof decking, and a 50 gallon water heater. Residents enjoy access to exceptional community amenities, including a clubhouse, resort style aquatic center with three large pools, two story waterslides, a kids splash pad zone, and a catch and release fishing pond. Conveniently located near schools, shopping, dining, and major thoroughfares, this home delivers an excellent combination of comfort, efficiency, location, and lifestyle. Schedule your private showing today to experience all this home has to offer.
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.
