Stonewall Ranch is a welcoming family-friendly subdivision offering great amenities: Community pool; Basketball court; Playground and a scenic Pond. It’s a safe, peaceful community and quite easy to feel at home~~~The interior of the home is thoughtfully designed with a comfortable, functional layout that’s perfect for both everyday living, entertainin and strikes a perfect balance - feeling both open and spacious while still warm and cozy~~~This amazing 5BR 3Full Bath home is a split floor plan with the master ensuite downstairs and two very large Living Rooms. Beautiful dark hardwood flooring downstairs,..with carpet in all Bedrooms. There is a bonus bedroom and full bath is also downstairs for your teen or in-laws~~ The Chef’s kitchen is at the heart of the home, featuring granite countertops, an oversized basin sink in the Island, top-of-the-line Stainless-steel appliances, gorgeous 42” cabinets, generous counter space that flow seamlessly into the expansive family room, breakfast area and a wall of windows perfect for both intimate gatherings and large scale hosting~~~Upstairs, is a spacious game room offers flexibility as a family room, media space, or bonus area, three spacious bedrooms and a full bath. Every room features large windows, allowing abundant natural light to fill the home and create a bright, welcoming atmosphere~~~This lovely 2-story home is one of the few properties in the neighborhood with multiple mature trees in both the front and backyard, offering added shade and natural beauty. The backyard includes a covered patio, freshly stained deck,..both perfect for relaxing or entertaining and the homeowners recently stained the wood privacy fence. The home also includes a sprinkler system in both front and backyard. This cozy sidewalk community is less than a 1/2 mile to Hwy 183 or jump across Hwy 29 to I35. Sellers have planned their exit strategy well and want to offer their home at a very reasonable price for the space and amenities it offers!
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.
