Beautiful Pool Home Backing to an Open Space Greenbelt- Welcome to 16416 Toledo Bend Court—where comfort, style, and outdoor living come together in one exceptional home. Ideally located and zoned to highly sought-after Prosper ISD, this home offers both convenience and top-tier schools. Situated on a private greenbelt lot, the property creates a true backyard oasis designed for relaxation and entertaining. Step outside to enjoy the stunning propane-heated pool and spa built by Riverbend Sandler, complete with water features, two waterfalls, tanning ledge, and an extensive seating ledge. The outdoor space continues with a covered patio featuring a built-in grill and refrigerator, low-maintenance turf, and a 7-foot board-on-board fence along the sides with an iron fence along the greenbelt—perfect for privacy and year-round enjoyment. Inside, the home showcases thoughtful updates and quality finishes throughout. Fresh interior paint, including cabinets, enhances the bright and inviting feel, while newly installed luxury vinyl plank flooring in the dining room, primary bedroom, and family room adds modern appeal. The living room overlooks the backyard and features a cozy wood-burning fireplace. The primary suite offers a relaxing retreat, with an en-suite bath featuring quartz countertops, a framed mirror, jetted tub, separate shower, and walk-in closet. Upstairs, enjoy a spacious game room ideal for entertaining or flexible living. In addition, you will find three nicely sized bedrooms and a second bathroom updated with quartz counters and painted cabinetry. Additional highlights include a walk-out attic for easy storage, a two-car garage with extra workshop space, extensive crown molding, a Lennox HVAC system installed in 2024, and a Class 4 impact-resistant roof shingles. This home combines thoughtful upgrades, functional living spaces, an excellent location, and an unbeatable outdoor setting—don’t miss your opportunity to make it yours! Tons of Community Amenities
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.
