Welcome to 1306 Beacon Hill Drive, a beautifully maintained home! This exceptional property offers the perfect blend of comfort, convenience, and charm, making it an ideal place to call home. From the moment you arrive to this house situated on a corner oversized lot, you'll appreciate the inviting established surroundings that create a warm and welcoming atmosphere. Inside, you'll find spacious living areas designed for both everyday living and entertaining! The thoughtfully designed floor plan provides flexibility and functionality, with the convenient splint room design. The kitchen serves as the heart of the home, connecting seamlessly to the main living areas and creating an ideal space for cooking, dining, and making memories. Step outside and enjoy the private outdoor living space, perfect for backyard barbecues, children's play areas, gardening, or simply unwinding after a long day. Located within the highly acclaimed Midlothian Independent School District, this home provides access to excellent schools while remaining conveniently close to shopping, restaurants, parks, healthcare facilities, and community events. Commuters will appreciate the easy access to Highway 67, Highway 287, and nearby employment centers, allowing for convenient travel throughout the Dallas-Fort Worth Metroplex. Midlothian continues to be one of North Texas' most sought-after communities, known for its strong sense of community, excellent schools, growing economy, and hometown feel. This home presents a rare opportunity to enjoy all the benefits of suburban living while maintaining easy access to big-city amenities. Whether you're a first-time homebuyer, a growing family, or someone looking to settle into a thriving community, this affordably offers the lifestyle, location, and value you've been searching for. Don't miss your opportunity to make this wonderful property your next home. Schedule your private showing today!
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.
