VA ASSUMABLE LOAN AT 2.2%! Welcome to this 3-bedroom, 2-bath home in the highly sought-after community of Canyon Falls, where energy efficiency and outdoor living take center stage. Enjoy a private backyard oasis featuring a custom 14-foot Hydropool swim spa with sleek epoxy decking and a beautifully designed built-in outdoor kitchen—perfect for entertaining, relaxing, and enjoying Texas evenings year-round. Adding even more value, the Powur solar panels (seller paid) will convey with the sale, offering off-grid capabilities, long-term energy savings, and enhanced efficiency. Inside, thoughtful features and modern updates continue throughout. From the moment you enter, you are greeted by a versatile space at the front of the home with elegant French doors, ideal for a home office, additional bedroom, or game room. The interior has been refreshed with brand-new carpet and beautiful luxury vinyl plank flooring, providing both style and durability throughout the main living areas. The open-concept layout seamlessly connects the living room, dining area, and kitchen, all filled with natural light, creating a warm and inviting atmosphere. The kitchen is both stylish and functional, featuring quartz countertops, stainless steel appliances, and a coordinating tile backsplash. A built-in office nook adds even more functionality for work or study. The spacious primary suite offers a relaxing retreat with a well-appointed en-suite bath featuring dual closets for ample storage, a soaking tub, and a separate walk-in shower. Zoned to highly rated Northwest ISD, feeding into Byron Nelson High School. One-minute walk to Canyon Falls Westbridge pool and playground. Canyon Falls HOA amenities include front yard maintenance, cable, internet, a fitness center, 2 resort-style pools, parks, 2 splash pads, a dog park, basketball court, clubhouse, scenic hiking trails, catch-and-release ponds, community events, and more.
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.
