Step into timeless charm in this gorgeous two story home nestled in an established neighborhood just minutes from Lake Ray Hubbard and Town East Mall, with sidewalks throughout the community and Lyles Middle School conveniently nearby. From the moment you arrive, the inviting front porch, manicured landscaping, and Colonial inspired traditional exterior create the kind of welcome that makes you think... I'm Home! Inside, thoughtful architectural details bring warmth and character to the living spaces, including elegant picture frame molding that adds style and class to the living, dining, and kitchen areas. The oversized living room is anchored by a picturesque floor to ceiling black brick wood burning fireplace, creating a bold focal point and a cozy atmosphere all at once. Sliding doors from both the living room and kitchen open to a screened in back porch, giving you a seamless connection to the large private backyard and an easy place to enjoy quiet mornings or relaxed evenings outdoors. The kitchen blends charm and function with granite countertops, a pantry, and track lighting, while the dining room adds a fun dose of personality with its retro stained glass chandelier. Upstairs, all bedrooms are tucked away for a comfortable and practical layout. One bedroom features pink wainscoting, ceiling fan, and a closet, while another offers a spacious window seat alcove perfect for snuggling up to relax with a good book! The primary suite creates a peaceful retreat with private balcony access, perfect for relaxing in the cool summer evenings before bed, and an ensuite bath that comes with two separate closets, and a walk-in shower. Additional highlights include a powder room off the hallway near the garage, extra garage storage, and backyard gate access to the alley. With extra parking available in front and inviting spaces both inside and out, this home offers character, comfort, and room to enjoy everyday living in styl!
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.
