Tucked away on a quiet cul de sac, this spacious 4 bedroom, 2.5 bath home offers 2,924 square feet of flexible living space designed to adapt to your lifestyle. With three living areas and two dining areas, there is plenty of room for entertaining, relaxing, or creating spaces for work, hobbies, or play. The thoughtfully designed floor plan provides incredible versatility. One of the secondary bedrooms is currently set up as a home gym featuring a durable rubber floor that will remain with the home, making it easy to continue using the space as a fitness room or convert it to a bedroom if desired. The home features hard surface flooring throughout all of the main living areas, creating a clean look and easy maintenance. Fresh new carpet has been installed in the bedrooms for added comfort. The kitchen area includes a convenient coffee bar or serving bar, perfect for morning routines or entertaining guests. The primary suite has been tastefully updated and offers a relaxing retreat with dual vanities and a large walk-in shower in the remodeled bathroom. Multiple living areas provide flexibility for a media room, game room, or second family room, while the two dining areas offer both casual and formal options. Several major systems and upgrades provide peace of mind. The HVAC system was replaced in 2021 and includes a whole home air scrubber for improved indoor air quality. The home also features a whole home lightning circuit protector. The garage has been upgraded with new siding, insulation, waterproofing, a smart garage door opener, and a 220V outlet, providing functionality for projects, electric vehicle charging, or workshop needs. Step outside to enjoy the covered patio, a great spot for relaxing or hosting gatherings. The location offers convenient access to HWY 161-George Bush Turnpike and HWY 183, making commuting throughout the DFW metroplex simple and efficient.
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.
