Do NOT MISS this exceptional single-story estate with a GUEST HOUSE, perfectly situated on 4.47 picturesque acres within a desirable GATED community! Offering a RARE combination of space, comfort and versatility, this property is ideal for those seeking both a private retreat and a functional lifestyle! The main home features 4 spacious bedrooms and 3.5 bathrooms, including a Jack and Jill bathroom. Open concept layout flows seamlessly to outside making it perfect for entertaining! All windows have been replaced providing ample natural light and are equipped with motorized shades throughout for effortless living and gorgeous views! Spacious kitchen complete with two islands, two sinks, and a huge walk-in pantry. The spacious primary suite offers a luxurious escape with sitting area, complete with garden tub, oversized shower, and an additional flex room off the primary bath. Fourth bedroom currently being used as a study. Game room complete with built-in desk, shelves & drawers! Spacious laundry with sink and room for extra fridge! Step outside through the large, screened porch and experience a true private retreat with amenities that are truly unmatched! Relax & swim in the Saltwater pool surrounded by lush landscape and peaceful views! Equestrian enthusiasts and hobbyists alike will appreciate the 3 fully fenced pastures including one with its own separate entrance, as well as a well-equipped BARN with four stalls! Space for RV parking for recreational needs. 3 ample spaced pastures allow for animals, sports courts or whatever else you desire! Greenhouse, multiple garden beds, and multiple fruit trees are a garden enthusiasts dream! A SPACIOUS separate GUEST HOUSE fully equipped with 1 large bedroom, 1.5 baths, laundry area, custom built-ins and new matching appliances! Oversized garages equipped to accommodate up to 6 vehicles, and expansive circle driveway offers plenty of parking. Zoned for highly regarded Prosper ISD schools! This property truly is a gem!
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.
