Come see this beautifully remodeled home in the heart of Tyler - near Green Acres Church - with 3 possibly 4 bedrooms on a corner lot. It was thoughtfully renovated by its owners in 2022 with too many upgrades to mention here, but we'll try. Living room features a dramatic vaulted cedar ceiling, stone fireplace with wood mantel, custom lighting, custom window framing, woodwork and blinds and an oversized fan. Gorgeous gray ceramic tiles flow seamlessly into the formal dining room with new light fixtures, wainscoting, bay window, and a dedicated home office (or 4th bedroom) with sliding barn door. The Chef’s Kitchen shows off with its white shaker cabinetry (custom made) with glass uppers, a contrasting blue island with granite countertops, Samsung stainless steel appliances, a gas range with a pot filler, and a butler’s pantry with a custom built-in china hutch. And the breakfast nook offers a casual dining space with a large corner window, tray ceiling and candelabra lighting. Laundry room features a mudroom or catch-all space, new cabinetry and a farm sink. Even the garage was touched with a new door and motor, epoxy flooring and a whole-home water filtration system.The primary suite boasts a tiered cedar ceiling, walk-in closet, and enter the sliding barn door to find a spa-style bath with marble counters, walk-in shower, ceramic tile & custom made cabinets. The covered back patio overlooks a fenced backyard with mature trees, a stone outdoor fireplace, and storage shed. Minutes from Loop 323, US-69, close to TJC, and Tyler's medical corridor including CHRISTUS Mother Frances Hospital and UT Health East Texas — with easy access to Bergfeld Park, the Tyler Rose Garden, Caldwell Zoo, and downtown Tyler dining and entertainment. Spray foam insulation added in the attic, circle drive in the front added in 2023, entire home repainted, fresh wood trim - almost every surface has been touched...Better hurry as this astonishing home will not be available for long.
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.
