Charming privacy and peaceful surroundings await at 1804 Pilot Point Way in Princeton, TX. This meticulously maintained 3-bedroom, 2-bath home with a dedicated dining room or flexible living space offers comfort, value, and a backyard setting that truly stands out. Perfect for first-time buyers, investors, or anyone looking for an affordable home that has been exceptionally well cared for, this property combines thoughtful upgrades with a quiet, welcoming neighborhood. Conveniently located just minutes from Highway 380 and I-75, the home provides easy access to McKinney, Frisco, and Plano while allowing you to enjoy Princeton’s small-town charm and more attainable home prices. Inside, engineered wood floors flow throughout the main living areas, and the home features upgrades that add both comfort and convenience, including a Rain Soft whole-house water filtration system and a separate drinking water faucet in the kitchen. The kitchen offers ample cabinet space, granite countertops, and upgraded appliances, making meal prep and entertaining easy. The spacious primary suite includes a relaxing soaking tub and separate shower, creating a comfortable retreat at the end of the day. A security system is also installed and can remain with the home, providing added peace of mind for the next owner. One of the most special features of this property is the outdoor space. The oversized covered patio invites you to relax, entertain, or enjoy quiet evenings while overlooking a treeline and open farmland behind the home. With no direct back neighbors and wide open views, the backyard offers a rare level of privacy and tranquility that is hard to find at this price point. The space feels peaceful and secluded while still being part of a friendly neighborhood community. French drains were added along the west side of the yard to improve drainage, reflecting the care and attention the current owners have put into maintaining the property. Schedule your showing 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.
