WONDERFUL 2-story 5 bed/2.5 bath home boasts 3,380 sf of living space on a GENEROUS 11,230 sf (0.26 acres) CORNER LOT. Home is located in the well established and sought after Old Town Village subdivision. SPACIOUS CORNER LOT lends to HUGE front, side and back yards. 2-car GARAGE and LONG DRIVEWAY are set back to accommodate multiple cars. *OPEN FLOOR PLAN has LIVING SPACE perfect for entertaining or quiet enjoyment. LEVELOR BLINDS, custom window furnishings, ceramic tile and carpet throughout the home. Dine or ENTERTAIN guests in the FORMAL DINING area. Spacious GREAT ROOM highlights the added VALUE and AMBIANCE of the WOOD BURNING FIREPLACE. *SPACIOUS eat-in KITCHEN has an island, stainless steel appliances and GENEROUS cabinet storage. Off the kitchen is a MULTI-PURPOSE UTILITY ROOM that houses a WALK-IN PANTRY, LAUNDRY AREA and STORAGE. *First level bedroom can be used for a Mother-in-law plan or office. The 4 additional Bedrooms are located on the 2nd level which also includes a SECLUDED and SPACIOUS PRIMARY SUITE. PRIVATE Primary Suite boasts 2 Walk-in Closets, an ensuite bathroom with AMPLE STORAGE, Walk-in shower and a garden tub. *2nd level has a BONUS FLEX SPACE perfect for a home office, gym, playroom, gaming, music/media entertainment area, library, hobby studio or guest room. This home has room to accommodate all your housing needs! *SPACIOUS FRONT YARD increases CURB APPEAL for PRIVACY and significant LANDSCAPE FLEXIBILITY. HUGE BACKYARD has a COVERED PATIO and can be a PRIVATE OASIS for relaxing and gardening as well as entertaining or sports. Backyard houses a BONUS outdoor multi-purpose STORAGE SHED. *CENTRALLY LOCATED HOME is in close proximity to area schools (GreatSchools.com), shopping, restaurants, parks, Capital Metro Train Station, commuter routes 183 & Toll Road 183A. Don't miss out on this rare jewel of a find!
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.
