**Exquisite Lakefront Living in Griffith Lake Estates** Set against the serene backdrop of Griffith Lake Estates, this stunning lakefront property offers a unique blend of luxury and tranquility. Built in 2019, this modern home boasts 4 spacious bedrooms, 3 elegant bathrooms, and a 2-car garage, all nestled in the heart of North Abilene. With its prime location, you’ll enjoy the convenience of being under a mile from Abilene Christian University and just a short drive to Hardin Simmons University and Hendrick Hospital North Campus. This vibrant area is burgeoning with trendy dining spots and shopping attractions, while offering a peaceful lakeside retreat. The interior of this home is just as impressive as its scenic surroundings. An inviting open floor plan perfectly complements the magnificent views of the private, HOA-owned lake. Paddleboarding and other non-motorized recreational activities are literally steps away from your backyard, promising countless days of lakeside amusement. Each bedroom is thoughtfully designed, with ample space and natural light. The primary bedroom serves as a luxurious retreat, complete with a spacious ensuite bathroom. Upstairs, a second suite includes an innovative murphy bed that remains with the property, providing flexibility for guests or additional living space. Energy efficiency is prioritized with foam insulation ensuring the attic storage area remains temperature controlled throughout the year. Step outside to a generous backyard, ideal for gatherings or quiet reflection as you watch breathtaking sunsets over the lake. The meticulously maintained exterior offers a perfect blend of manicured landscaping and natural beauty, enhancing the allure of lakeside living. Immerse yourself in the harmonious blend of luxury and leisure that this Griffith Lake Estates property has to offer. This home is more than just a residence; it is an experience. Buyer to verify measurements, HOA info.
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.
