Welcome home to this highly sought-after home in Woodland Oaks neighborhood! Situated on a quiet cul-de-sac, the oversized lot is an entertainer's dream featuring a large deck, beautifully landscaped backyard, and a newly added 14x12 covered gazebo. Mature trees and lush landscaping set this home apart creating a peaceful outdoor retreat with plenty of room to relax or entertain. This move-in-ready home has been extensively updated with new luxury vinyl plank flooring throughout, fresh interior paint, updated chandeliers and ceiling fans, laminate flooring on the stairs, hallway, and playroom, white faux wood room-darkening blinds throughout, and new windows installed in 2023.Featuring 3 spacious bedrooms, 2 full bathrooms, and 1 half bath, this thoughtfully designed home offers the perfect blend of everyday living and elegant entertaining. Step inside to soaring ceilings, abundant natural light, and an open-concept layout that creates an inviting atmosphere throughout. The expansive living room flows seamlessly into the gourmet kitchen, complete with white cabinetry, granite countertops, and generous prep and storage space. The luxurious primary suite is conveniently located on the main floor and features a spa-inspired bath with dual sinks, a separate shower, relaxing garden tub, and oversized walk-in closet. Upstairs, you'll find two additional bedrooms, each with their own walk-in closets, along with a versatile bonus room and private walk-out balcony-perfect for a game room, media room, home office, or studio. Additional improvements include 27 newer double pane windows, with white faux wood darkening blinds, new celling fans and tasteful light fixtures, updated landscaping with stone flowerbeds, new grass installation, and 240' feet of new fencing! Home is complimented with newer stainless-steel microwave, stove/range, and dishwasher. Conveniently located near top-rated SCUCISD schools, shopping, dining, entertainment, grocery stores, and Randolph Air Force Base.
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.
