Spacious pool home with spiral staircase, media room, game room, and hardwood floors throughout main living areas in sought-after Allen. Situated on an elevated lot with mature shade trees, this home offers great curb appeal with a welcoming walk-up approach and stairs leading to the front entry. Inside, you’ll find real hardwood floors throughout the entry, formal dining room, office, living area, and hallways, while the elegant spiral staircase creates a stunning focal point as you enter the home. The layout features a private office on one side of the entry and a formal dining room on the other, flowing toward the kitchen at the back of the home. The kitchen has been updated with marble-look flooring, dark stained cabinetry, granite countertops, stainless steel appliances, a gas cooktop, crown molding, a long breakfast bar, and an oversized breakfast nook ideal for everyday dining and gatherings. The spacious family room includes a cozy wood-burning fireplace with built-in cabinets and shelving on each side, along with a wall of windows that provide abundant natural light & views of the backyard retreat. The private primary suite is located downstairs and overlooks the backyard pool. The primary bath features a soaking tub, separate shower, and a spacious layout designed for relaxation. A secondary bedroom with a full bath is also located on the first floor, perfect for guests. Upstairs features a large game room, media room, an additional bedroom near the game room with a nearby bath, plus two additional bedrooms connected by a Jack-and-Jill bathroom. All bedrooms are generously sized with walk-in closets. The backyard is designed for entertaining with a large patio & pergola that leads to a sparkling pool with an expansive sun deck. The neighborhood also offers a community pool for residents to enjoy. Zoned for top rated schools. Conveniently located near U.S. Highway 75 and Sam Rayburn Tollway with easy access to shopping, dining & entertainment.
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.
