VA loan
1 of 42
VA loan
$574,900

12515 Pine Savannah Ln, Humble, TX 77346

4 beds · 4 baths · 3,754 sqft sqft

This stunning 4-bedroom, 3.5-bath Westin home is situated in the Groves, offering a spacious layout with a large walk-in closet. It features a family room, study, and informal dining room, along with a spacious island kitchen that opens to the family room. Enjoy a 19’x30’ media/gameroom, covered patio, and attached 2-car garage. Nestled near Lake Houston amidst nearly 1,000 acres of wooded bliss, The Groves is a unique master-planned community. Located in the acclaimed Humble ISD with convenient access to Beltway 8 and Hwy 59, the Hearth Amenity Center serves as the heart of the community, boasting a resort-style pool, an oversized hearth fireplace with cozy bistro seating, and soft festoon lighting. Close to IAH airport and abundant shopping, this opportunity should not be missed.

Interest rate 3
2.75%
With Roam
7%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$2,228
With Roam
$3,501
Reduce your monthly payments by $1,273 when you assume this mortgage.
You also save $412,730 in total interest paid.

$65,765
Edit

You may be able to put down less than the total down payment amount of $65,765 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.
Location
Details
Home
Size
3,754 sqft
Lot size
0.2023 acres
Year built
2021
Type
Single Family Residence

Source: HAR #70344086

Loan
Remaining term
27 years
Rate
2.75%
Monthly P&I
$2,228
Remaining loan balance
$509,134

Source: Public records

How it works

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

Tour

Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.

Offer

Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.

Close

Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.

Who can qualify

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.

Frequently asked questions

What is Roam?

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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.

What is an assumable mortgage?

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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.

Why is an assumable mortgage valuable?

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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.

Will an assumption work for me?

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An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.

Why do buyers use Roam?

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Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.

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Last updated: Oct 30, 2024 08:19 am
Listing agent: Toyia Chenevert (281) 995-5461
Listing provided courtesy of: Re/MAX Universal (281) 894-1000
Details provided by HAR and may not match the public record.
MLS ID: #70344086
Copyright 2024, Houston REALTORS® Information Service, Inc. The information provided is exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$2,228/mo
View details