Don’t miss this rare opportunity to secure a dream home and a dream rate. With a 2.99% assumable loan, this home offers the chance to lock in a near all-time low interest rate, potentially giving buyers much more monthly affordability and long-term purchasing power—especially valuable in today’s high-rate market. But the financing isn’t the only thing that makes this property stand out. Located just outside the Rockwall-Wylie area in the quiet, up-and-coming town of Josephine, TX, this home blends small-town charm with modern comfort. It’s one of the last true small-town pockets in Collin County, offering both a peaceful lifestyle and strong growth potential. From the moment you pull up, you’ll notice the home’s great curb appeal and inviting presence. Inside, the thoughtfully designed floor plan flows beautifully and functions effortlessly. Coming in from the garage, you'll move through the mud room to the laundry area, leading into the spacious primary closet, then into the main bathroom with an additional closet, flowing into the large primary bedroom, and finally into the kitchen and open living area. It’s a layout that’s as smart as it is seamless. The open-concept living space is filled with natural light and perfect for everyday living. You’ll also find a dedicated office with its own closet, offering the flexibility to convert it into a 4th bedroom—ideal for remote work, guests, or growing families. Step outside to a large, open backyard with plenty of space for outdoor fun, family gatherings, or even adding a future pool to create your own retreat. Whether you're looking for a home with a flexible layout, welcoming atmosphere, and small-town character, or you’re a savvy buyer eager to take advantage of a remarkably low interest rate and projected equity gains, this property is a true win on all fronts. Homes like this—offering financial advantage, great design, and community charm—don’t come around often. Schedule your tour 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.
