**Second Date Update** This handsome estate is much better presented this time around for all the Zillow-lovers looking at the previous listing! Freshly painted & deep cleaned, this 1994 Drees executive-level home has a TRUE MULTI-GEN floorplan: 1BR + 3-piece bath on the ground level, Owner's Retreat upstairs. NEW HVAC June 2026. Versatile front lounge + dining at the front provide separate social spaces, with a circular flow that runs through the kitchen back to the CENTRAL GREATROOM with 20'ft ceilings, large-format tile floors, ornate tiled FP (gas) + big window wall providing natural light all day long across both levels (faces south). Gorgeous decorative tile inserts in the entry, den + fireplace surround. Traditional Drees kitchen: GRANITE counters, electric cooktop in the island (down draft exhaust), pendant lights, 42-in uppers solid wood cabinetry, pantry + planning desk. Designed to be size of a studio apartment or luxury suite, the Owner's Retreat stretches across one-third of the upstairs. Updates here include the ensuite bathroom remodel 2025 with updated shower & tub tiles. Wisely designed Gameroom can be closed off for noise control + built for functionality + cabinetry storage wall + 2 built-in study desks. QUARTER-ACRE LOT measures 65'W x 115'D, spacious backyard with flagstone patio is a low-maint blank slate waiting to be developed, sprinkler sys recently overhauled. GC-ISD: GES, HMS, CHHS. If you know, you know. Easy stroll to Pleasant Glade Pool (city pool) + entrance to Bear Creek trailhead + dog park is 0.2 miles east at Hazy Meadow Park. Ideal South Grapevine location close to major shopping in all directions; Hwy's 121-114-635-360-183-820; Glade Parks, 5 min to DFW Airport; 10 minutes to Grapevine Lake, Gaylord Texan & Great Wolf Lodge; there's almost too many restaurant & entertainment choices! Here's your chance to live in the Christmas Capital of Texas! Grapevine is not just another suburb, it's a lifestyle. Stop swiping & come see it!
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.
