ELEGANT, FOUR BEDROOM, SINGLE-STORY RANCHER IN ENCHANTED FOREST WOWS WITH MODERN UPDATES, OPEN FLOOR PLAN AND GORGEOUS YARD! This proud grand dame was the model home way back in the 60s and that quality still resonates as you are welcomed home. Just off San Pedro north of 410, just outside Castle Hills, Enchanted Forest is a hidden enclave of estate lots and tree-lined streets. Pull up to a four sides brick beauty who beckons you from a quiet cul-de-sac. Move past a charming front porch and into a wide open living space awash with natural light. Gleaming luxury vinyl floors stretch into the dining space and huge, renovated kitchen. Here find everything you could want in a cooking/gathering space -- one so extensive you'd expect to find it in a luxury home. You'll find sleek granite countertops, glass tile backsplash, an 8x4 foot eat-at island, new 42-inch white shaker cabinetry with modern hardware, a separate space for a coffee bar and even a huge 6x4 foot picture window over the deep sink that shows a view of the tremendous, lush and shaded backyard. A fireplace with long hearth on the wall of the dining/den space sets a cozy atmosphere to the open concept renovation. Tucked behind the kitchen find an extra generous laundry room with tons of storage that takes up the entire back wall and access to the backyard as well as the attached two-car garage. The two-door garage not only offers room for vehicles and pegboard wall for tools but also a dedicated workshop with door to keep all your projects neatly stored out of sight. Back inside, head down the hallway to a guest bath renovated with new higher vanity and mirror, new toilet and a tub/shower combo. Three secondary bedrooms reveal the character of this gracious gal with original wood parquet floors refinished to match the gray theme of the home. The primary suite is a true retreat with a walk-in closet sometimes hard to find in this era of build and ensuite bath fully renovated with high solid surface vanity, glamorous mirror and a glass door walk-in shower with subway tile and convenient shampoo shelf inserts. Pop outside from the smooth opening Pella sliding glass door to your covered patio with pebble floor offering a view of your private backyard, behind a privacy fence, under towering oak trees and landscaped with St. Augustine, iron plants and other perennials where the model home's landscaping has had six decades to mature. Flagstone pavers extend the patio space for seating under the shade. A storage shed is tucked off to the side, nearly out of sight and easy to access for mowers and gardening tools. Add up all the extras in this home and know you are making the right decision -- 30-year architectural shingle roof with ridge vent, gutters, new windows, fresh paint, new bathrooms, kitchen and LPV and wood floors. Now consider the incredible convenience being 5 minutes to the airport, a few blocks off 281 for 10 minute access to the Pearl, 15 minutes to downtown/Riverwalk and easy commutes to all the military bases and you won't be able to say anything but yes to this house!
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.
