Offering a 2.6% VA assumable loan, welcome to 142 Prato Palma! Where Space Meets Style, and Community Living Shines! ! Step into this stunning home designed for modern living and endless possibilities. The heart of the home is a spacious living room that flows seamlessly into a beautifully laid-out kitchen and dining area, perfect for entertaining or cozy family meals. A guest room with a private bath ensures comfort and privacy for visitors. Upstairs, discover a versatile family haven - a second living area that's perfect for game nights, a media room, or simply relaxing together. But the real showstopper is the unique flex room - a private, spacious blank canvas ready to adapt to your dreams. Whether it's a home office, gym, art studio, or playroom, this space is yours to create. The primary bedroom is a true retreat, offering ample space and a luxurious private bath. Two additional spacious bedrooms with a shared bathroom provide everyone with their own cozy corner, making this home perfect for families or roommates. And that's not all! The community amenities elevate your lifestyle with a sparkling pool, a fun-filled playground, and a clubhouse perfect for gatherings and events. Whether you're relaxing by the water, watching the kids play, or hosting friends, this neighborhood has it all. 142 Prato Palma isn't just a house - it's a lifestyle. With its thoughtful layout, abundant space, and incredible community features, this home is ready to inspire your next chapter. Don't miss the chance to make it yours! Schedule a tour today and let your imagination run wild! Schedule a tour today to take your next step towards Texas Homeownership!
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.
