Discover Your Dream Family Retreat in Mesquite! Welcome to your perfect family haven in the heart of Mesquite! Nestled in a serene, family-friendly neighborhood, this charming home invites you to create lasting memories in a setting that blends comfort and convenience. Imagine stepping into a spacious lot adorned with a lush front yard, majestic mature trees, and an expansive backyard that opens directly to the scenic McWhorter School Park, your own private oasis for picnics, playtime, or peaceful relaxation. Inside, this delightful home boasts a thoughtfully designed floor plan, perfect for family living. Gather in the cozy living room, whip up meals in the kitchen, or share laughter around the dining table. With three inviting bedrooms, a bathroom featuring updated tile in the tub-shower, and a convenient laundry area, every detail caters to your family’s needs. Recent 2024 upgrades, including fresh exterior paint and a new water heater, ensure a move-in-ready experience, while stylish laminate flooring adds a touch of elegance. Beyond your doorstep, adventure awaits! Enjoy seamless access to LBJ for stress-free commuting, and indulge in nearby dining and entertainment at the vibrant Town East Mall and its surrounding hotspots. This is more than a house. it’s a lifestyle. Seize the opportunity to own this enchanting home and savor quality time with loved ones in your park-like backyard paradise. Your Mesquite dream home awaits!
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.
