Located on a peaceful 1.406 acre lot in the desirable No HOA Springwood Ranch community, this beautifully maintained 2019 Riverside Homebuilders home offers modern comfort and Texas country living. Backing to a scenic tree line and open pasture, the property provides privacy, expansive views, and a tranquil setting minutes from Springtown, Weatherford, Azle, and Fort Worth. This spacious open-concept floor plan features 3 bedrooms, 2 baths, and a versatile flex room ideal for a home office, playroom, or guest space. The large living room showcases a brick-faced wood-burning fireplace, vaulted ceilings, crown molding throughout, decorative lighting, and luxury vinyl plank flooring. This is the only Riverside home in the neighborhood featuring crown molding throughout, white kitchen cabinetry with door and drawer pulls, and a brick fireplace. The kitchen offers granite countertops, a large dining area, spacious pantry, electric range, updated microwave, dishwasher, and disposal. Bathrooms and laundry room feature Italian-style ceramic tile flooring. The oversized utility room includes washer-dryer hookups and space for a 20 cu. ft. upright freezer. Additional features include double vanities, oversized walk-in closets, hard-wired and Wi-Fi capability, TV sound system wiring, Direct TV and Dish availability, and high-speed internet readiness. Exterior highlights include a covered front porch and rear patio, four paver-bordered planter beds with solar lighting, steel and wire mesh fencing, aerobic septic system, Rain Bird irrigation system, new Andersen storm door, and a new septic compressor (serviced and cleaned 5.20 with 2-year warranty). The home also benefits from a $21,000 roof replacement completed before move-in, plus all-new gutters and downspouts. Located within Springtown ISD, this property combines updated features, ample space, and convenient access to shopping, dining, and major highways—offering the perfect blend of modern living and country charm.
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.
