Located in the ArrowBrooke master-planned community, this one-story 3 bedroom, 2 bath, 2 car garage home offers an open floorplan designed for everyday living and entertaining. The kitchen and living areas connect seamlessly to create a comfortable gathering space, while upgraded vinyl plank flooring in the front room adds both durability and style. The home includes smart home and energy-conscious features designed to enhance convenience and efficiency. Lutron smart lighting is installed in the main living spaces, and the home includes a smart home system for easy security management. The AprilAire whole-home air filtration system helps improve indoor air quality by filtering the air and reducing dust buildup. The primary suite includes an upgraded showerhead, adding a thoughtful enhancement to the bath area. Outdoor living is a highlight of the property with an oversized backyard offering multiple functional spaces. The pergola-covered patio with GoVee smart lighting creates an inviting area for outdoor seating and gatherings. Additional backyard improvements include a ranch-style extended patio, raised side yard with faux grass, and a raised garden bed with stone wall, providing space for gardening, pets, and outdoor enjoyment. The home is also conveniently located near a neighborhood park, making it easy to enjoy walks, runs, or time outdoors with pets. Residents of ArrowBrooke enjoy a variety of community amenities including two community pools, a wading area with rain wall, playgrounds, approximately 4 miles of hiking and biking trails, multiple lakes and ponds for catch-and-release fishing, grilling stations, and a sports field. Conveniently located with access to Highway 380 and Highway 377 and near Lake Lewisville, offering nearby recreation along with access to shopping, dining, and commuting routes. Schedule your home tour today!
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.
