Step inside this architecturally striking Lewisville residence with separate guest house and office where clean lines, custom craftsmanship, and thoughtful upgrades create a home as functional as it is beautiful. Inside the high security front door, take note of the stained concrete floors giving you both modern sophistication and low-maintenance durability. The upgraded kitchen comes with custom cabinets with under mount lighting, double ovens, a JennAir 36-inch gas cook top, instant hot water tap, motion activated faucet, and 6-stage reverse osmosis drinking water. Enjoy breakfast under the chandelier as you look out over the side yard garden. Down the hall, step into your primary bedroom oasis which includes vaulted ceilings and a primary bathroom that you can only appreciate in person. From the zero threshold shower with waterfall shower head to the private soaking tub room with chandelier and electric fireplace, it will be hard to ever leave. The second primary closet was converted from an old bedroom and has a quartz countertop island with storage drawers. It can be used as a connected bedroom nursery or flex space, or the island could be removed to utilize it as a full sized bedroom again. The secondary bathroom is just as awe-inspiring with its back-lit onyx counters and marble sinks. In the back you will find the separate guest house. An office space with half bath is downstairs. Upstairs, a fullsize kitchen, bath, and laundry await your guests to experience full comforts of home while here. HUGE potential for passive income or multi-generational living! The 9-ft privacy fence around the property provides amazing privacy, and the driveway gate with electric motor makes it easy to access. Located in a peaceful neighborhood known for its tree-lined streets and community feel. Do not miss this one of a kind property!
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.
