AN ABSOLUTE STUNNING GALLERY CUSTOM HOME OFFERS RESORT STYLE LIVING WITH AN ELABORATE POOL, RAISED SPA, OUTDOOR POOL BATH WITH SHOWER, OUTDOOR KITCHEN, STONED FIREPLACE AND OVER 800 SQUARE FOOT OF COVERED AND RETRACTABLE SCREENED LIVING SPACE... COUPLED WITH 5 BEDROOMS, 6 BATHROOMS, GAME ROOM, MEDIA ROOM AND A 3 CAR SIDE ENRTY GARAGE!! Welcome your guest to a grand entry with double iron front doors with soaring 20 ft ceilings, elegant full wood staircase with wrought iron balusters, hardwood like tile flooring encompasses the extended entry that flows from the front door to back door. Impressive finish out is evidenced in the thick moulding, baseboards, custom fireplaces, barreled arches, high end lighting and chandeliers. Easy flow for entertaining at its best with the elegant dining room that offers easy access and flow though the butler's pantry into the kitchen. This open kitchen concept will bring out the culinary artist in you which includes exotic level granite c-tops, porcelain steel farmhouse apron sink, off set laid subway tile backsplash, SS appli with a 5 burner gas cooktop, double ovens, and over 38 doors and drawers for ample storage. The primary bedroom is tucked in the corner for private purposes will offer a wall of windows for a panoramic view of your sanctuary backyard, a sleek linear recessed fireplace and a private door for easy access to the pool and spa. The primary bath offers a spa like feel with a Texas-sized walk in shower, free standing soaker tub and a very generous walk in closet with windows, custom shelving and drawers. Action packed game room has plenty of space for billiard, ping pong, air hockey or poker. Media room offers tiered flooring, surround sound speakers, wall sconces and a wet bar. Elite schools in Prosper ISD, walking distance to the community pool, great shopping, universal studios and championship golfing at the Omni PGA headquarters and resort! THE PRIDE OF HOMEOWNERSHIP SHOWS THROUGHOUT, A MUST SEE TO APPRECIATE!
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.
