Exceptional outdoor living on nearly half an acre, oversized storage, and RV ready parking set this beautifully maintained 4 bedroom corner lot home apart from newer options nearby. Just 15 minutes from door to shore at Benbrook Lake, this thoughtfully designed property offers the space, flexibility, and functionality buyers in this area are searching for. A 40 foot covered front porch stretches across the entire front of the home, while the oversized rear covered patio creates the perfect setting for entertaining, grilling, and peaceful Texas evenings. Native landscaping, established younger trees, and attractive taller black chain link fencing provide a polished outdoor setting that still feels open and highly usable. Two separate drive approaches include a circular front drive plus side entry garage access, creating excellent guest parking and ideal space for RV, boat, or trailer parking. Inside, updated flooring completed within the last two years complements the spacious layout. The upstairs bonus room adds valuable flex space for hobbies, kids, a playroom, office, or even more storage. Storage is truly exceptional with generous closets, a large attic, and oversized 10 x 20 storage shed. The side entry garage includes its own mini split plus an upgraded 100 amp subpanel with dedicated 220 and 120 circuits, making it ideal for projects, workshop use, hobby space, or climate controlled flex living. This home offers the lot functionality, storage capacity, and outdoor lifestyle features that are becoming harder to find in newer homes nearby.
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.
