ASSUMABLE 2.9% ARP FHA FIXED RATE FINANCING!! Glen Crossing in Celina Texas gives you the quiet comfort of suburban community living with all the conveniences of the Dallas Fort Worth metroplex well within commuting distance. This Highland Homes custom build has some unique features the owners chose as upgrades not only from a luxury aspect, but upgrades to enhance a practical and comfortable lifestyle. There are additional custom cabinets and drawers in the kitchen and master bath, a media room flex space that could be used as a gym or secondary family living space, a separate dining room for those holiday get togethers, and a dedicated office for your work from home convenience. LVP floors in the family and kitchen spaces are kid and pet friendly providing you years of worry free wear. There is a second bedroom off of the garage entrance with an en suite bath for multi generational living. There's an extra storage room across from the laundry to keep the kid's sports equipment, additional pantry space for those Costco runs, or use as a supply closet for your home business. 10 and 11 foot ceilings, 8 foot doors, the open concept living room and large eat in kitchen along with plenty of natural light give this home an expansiveness that feels just as big as you want it to. Rock wool insulation in the exterior and interior walls adds sound proofing and energy efficiency. A stone fireplace in the living room adds a rustic ambiance and will keep you warm and cozy during those chilly Texas icy winter breaks from the heat. The back patio is extended and plumbed for gas waiting for your designs on that outdoor living space you've always wanted in a back yard that doesn't have other homes built right up to your back fence. A community pool, dog park, fishing ponds, and a walk-able neighborhood provides you with ample options for your outdoor experiences. This beautiful property is move in ready and waiting for you to come and make new memories in your new home.
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.
