You don’t want to miss out on this hard to find, American Legend, one owner, well-maintained, 2,856 sq ft 3 bedroom, 2.5 bath one story home with study and media room. Meticulously maintained in highly desired Frisco School District. This open floorplan home has a large primary suite with spacious walk-in closet, grand kitchen with numerous cabinets, a breakfast nook and a formal dining room for entertaining. The covered back patio creates an extension of indoor outdoor living. Ideal for Summer living, and quiet mornings. The living room has a wood-burning fireplace with gas logs. The media room is wired for 7.1 surround sound. The study has built-ins with 2 desks and tons of storage. The 2 car garage has an upgraded 18 foot wide cedar garage door that will fit two large vehicles. Mature trees and beautifully landscaped and maintained front and back yards with new sod in the back yard. Bonus secluded area off of the backyard for outdoor storage. Located between Sam Rayburn Tollway 121 and US Highway 380, making commutes and errands simple and efficient. Minutes away from the PGA Frisco development, Universal Studios and growing North Frisco entertainment district including Legacy West and The Star. Premier dining and shopping entertainment close to home. Updates include: 2 Lennox AC and heating units (2025), 2 Rheem 50 gallon hot water heaters (2025), Insinkerator garbage disposal (2024), Updated light fixtures in formal dining and kitchen (2025), LG Dishwasher (2020), New Roof (2019). The backyard has a board-on-board, 8 foot cedar fence (2023) and a custom arbor with an extended patio (2023). It also includes updated coach lights on the front of the home and VOLT lighting landscape lights in both the front and back yards.
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.
