OPEN HOUSE: Wednesday, July 8, 4pm-6pm. 120 Merry Trail in the highly desirable community of Hollywood Park offers timeless character, generous living spaces, and exceptional outdoor amenities on a beautifully maintained property. Offering 4 spacious bedrooms, 2.5 bathrooms, three versatile living areas, and a side-entry three-car garage, this home is enhanced by soaring ceilings throughout, creating an open, airy feel while providing an ideal layout for both everyday living and entertaining. Rich original hardwood flooring extends through the entry, kitchen, and dining room, adding warmth and character, while wood plantation shutters throughout create an elegant, cohesive design. The thoughtfully designed kitchen is the heart of the home, featuring a center island, a butler's pantry, a built-in wine cooler, premium stainless steel Miele convection microwave and oven, and a Thermador stainless steel cooktop-perfect for the home chef. The private primary suite is a true retreat, featuring its own gas fireplace, a private balcony overlooking the backyard oasis, dual granite vanities, a jetted soaking tub, and a separate walk-in shower. The custom bathrooms showcase built-in cabinetry and Level 4 granite countertops, blending functionality with timeless style. Designed for entertaining, the backyard showcases a sparkling 20' x 40' Blue Haven oval-shaped pool, an expansive covered patio, and a large wooden deck, creating multiple spaces to gather with family and friends. An oversized 20' x 12' gable storage shed provides abundant space for hobbies, tools, or additional storage. Additional highlights include a spacious laundry room with a utility sink and folding counter, Class 4 impact-resistant shingles that may qualify for insurance discounts, and city sewer service with no septic system to maintain. Take a quick golf cart ride to the impressive $5 million Voigt Center, where you'll enjoy resort-style amenities including a clubhouse, covered pavilion, three pools, a splash pad, a sand volleyball court, a full-size basketball court, tennis courts, two playgrounds, and convenient access to the Sonterra Golf Course. The Hollywood Park Community Organization hosts approximately 22 neighborhood events each year, fostering a vibrant sense of community. Membership in the voluntary HOA is just $35 annually.
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.
