This home is a truly special opportunity! It is a quiet neighborhood with established trees and wide streets. As you walk up, you enjoy the covered porch and landscaped front entry. Upon entering, you find this family home has been fully updated, with care and attention in every detail. While it may appear standard from the outside, almost everything has been replaced and upgraded, from wiring, to plumbing, HVAC (2 years), windows, and more. It stands apart from others in the neighborhood by having a dedicated laundry room inside, a small flex space with a custom built-in desk, and a tankless water. Upgrades to daily functionality include solid wood doors, soft close hinges, a lazy susan in bottom kitchen cabinet, and double-hung windows with security locks. Popular shiplap adds character to the walls in the main living spaces and wood-look luxury vinyl plank throughout makes cleaning a breeze. For hosting, the dine-in kitchen has a custom built bench, allowing comfortable seating and additional storage. The mobile kitchen island is also custom built and provides additional seating. A custom bay window in kitchen opens fully to a bar area outside. Outside, you'll find a huge lot! The backyard has a 12x20 shed wired for electrical and the most aesthetic playhouse that is also wired for electrical. There is plenty of room to grow a garden, run and play, or just enjoy the peace and quiet of no rear neighbors. It is located in the heart of Crowley, making access to the brand new Crowley Crossing (featuring walking path, playground, splash pad, and dog park) just a short walk. This is home to the popular Spring Farmer's Market, Christmas in Crowley, and Music on Main. Come see the charm of an older, established home with all the perks of modern amenities! It's truly move in ready and ready to welcome its new owner!
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.
