This meticulously east facing, maintained one and a half story home located in Frisco ISD offers four spacious bedrooms with three bedrooms and two and a half baths conveniently located on the first floor, while upstairs you’ll find a private living space with a full bedroom and bath that is perfect for guests or extended family. The home is on an OVERSIZED lot of 7500 sq ft backs up to 5 acre pond and 4 pools. The gourmet kitchen is a true showpiece with stainless steel appliances, a walk-in pantry, a built-in wine rack, and ample counter space, kitchen island that opens to the main living area highlighted by a beautiful stone fireplace and hand-scraped wood floors. The dedicated home office downstairs provides the perfect space for remote work or study also can be a 5th bedroom with a closet. The extended garage offers an additional three feet of storage space and electric car charger outlet, and the laundry room is thoughtfully designed to accommodate an extra refrigerator or freezer. Step outside to a covered patio that overlooks a beautifully maintained yard featuring established perennials in both the front and back, giving you year-round, low-maintenance beauty. The property backs up directly to the community amenity center and pools, giving you the feel of a private backyard oasis without the upkeep. With no neighbors behind, you’ll enjoy both privacy and views. The neighborhood itself offers resort-style living with multiple pools, waterslides, diving rocks, a kiddie splash area, pond, playground, basketball courts, and so much more, ensuring fun and relaxation for everyone. The location is equally impressive with a neighborhood elementary school one block away. As well as nearby shopping, dining, and retail conveniences just minutes away. This one home owner home has been lovingly cared for and is truly move-in ready, offering an ideal blend of comfort, style, and convenience. The PGA and new Universal Kids Studio are just a few miles away. No MUD or PID!
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.
