Welcome Home to this beautifully designed one story David Weekley 3 bedroom plus office/flex room located in the highly sought after neighborhood of Crossvine. With 2560 sq. ft., the formal entry welcomes you into the open floorplan and leads to the cozy living area featuring a beautiful rock gas corner fireplace. This layout is an entertainers dream with the living room open to the kitchen separated by an oversized island with granite countertops, stainless steel appliances, gas cooking and an abundance of counter and cabinet space. The extra flex room gives you the perfect place for a home office, fitness center, or extra space to meet your needs. You will also love the extra built in desk area off the living room for an additional work space! The oversized Primary bedroom is privately located on the opposite side of the house from the secondary rooms and has an abundance of space with beautiful Bay windows. Escape to your very own sanctuary with the ensuite featuring a jacuzzi tub and separate shower. Secondary rooms are good sized and secluded from Primary down a hall with adorable built ins and full bath. You will love having the space of the three car garage. The owner has though of it all with the addition of a motorized screen for the garage, allowing a perfect gym space if desired. The upgraded screened in back porch is truly a place to make your escape and relax after a long day. From there, you have an extended patio area for all your outdoor needs and the oversized backyard is complete with its very own garden and shed! The owner even installed a rain water collection system that will convey. There are endless possibilities to make this the place your home! Sauna in garage is negotiable. This one won't last with the community amenities Crossvine has to offer on top of this beautiful 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.
