WATERFRONT SHORT-TERM RENTAL OR PRIVATE RESIDENCE. This inviting large FULLY FURNISHED home sits serenely on the calm waters of a winding lazy channel leading to open water. Designed for flexibility of use, the Open Plan consists of 4 Bedrooms, 2 of which are Primaries with ensuites, plus 2 Flex Rooms for even more sleeping space. 4 Full Bathrooms provide plenty of privacy and 4 mini-split units allow individualized temperature settings in each Bedroom. The Open Living-Dining-Kitchen will fill your dreams with beautiful views of the lake while you entertain or cozy up to the wood burning fireplace. The chef's Kitchen has it all, from a large Island, granite countertops, lots of cabinets, wine fridge, ice maker, walk-in pantry and more. Guests can gather at the Kitchen Island or enjoy the Dining Area overlooking the lake. Glass doors in the beautiful wall of windows open to an expansive covered deck where you can enjoy your morning with nature or unwind at the end of the day in the bubbling hot tub. A natural stone path leads to the waters' edge and your private fishing dock. Bring your water toys and launch from 2 nearby community boat launches or go for a dip in the community pool. There is so much to enjoy at this waterfront piece of beautiful Texas and it proves true the adage, LIFE IS BETTER AT THE LAKE! Furnished, move-in-ready and NOW is the SEASON TO BUY. Grab this opportunity and enjoy your summer of relaxation or the income from your short-term rental. Beautiful Cedar Creek Lake is 1 hour southeast of Dallas with great restaurants, shopping, medical facilities and community events to enjoy. EVERYTHING is better AT THE LAKE!
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.
