Welcome home to comfort, charm and relaxing lakeside living. This former builder spec home is nestled at the end of the Parkway in the private community of Spring Valley Lake! This beautiful three-bed, two-bath home offers both privacy and convenience as it is across the street from the lake and one of the fishing areas! From the moment you arrive, you’ll appreciate the inviting curb appeal, highlighted by lush green grass that perfectly complements the home’s exterior. The spacious three-car garage provides plenty of room for vehicles, toys as well as additional parking for guests. Step inside to a welcoming foyer with fresh paint & tall ceilings that create an immediate sense of space and openness. Just beyond, you’ll find a versatile formal living or dining room filled with natural light from two large windows — perfect for entertaining or everyday gatherings. Open-concept kitchen boasts some newer appliances, tons of counter space, big walk-in pantry, and a convenient breakfast bar....ideal for casual meals and conversation. Cozy den off the kitchen is light and bright with a gorgeous rock fireplace (never used by seller) w/ custom mantle, super tall ceilings and large slider overlooking the professionally manicured backyard space - very serene and peaceful! Two great sized guest bedrooms with newer flooring (thru out), large windows and ceiling fans! Expansive primary suite with soaring ceilings, an oversized walk in closet and direct access to the backyard retreat! Open primary bath offers dual sink vanity, glass-enclosed step-in shower as well as a private commode room! The backyard is a little oasis with low maintenance landscaping, lots of rockscape, large covered patio and two very clean side yards....all block walled in! FULLY PAID SOLAR with battery backup, brand new blinds thruout, brand new stove, all new interior paint, all new flooring, huge, finished garage with built in cabinets that stay, spacious indoor laundry room with storage and SO MUCH MORE!! Take a look today and in no time, you can be enjoying the peaceful settings and scenic surroundings that comes with the Spring Valley Lake lifestyle!
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.
