CHARMING AND BEAUTIFULLY MAINTAINED home in the sought-after Oaks of Arlington offers exceptional value at this price point! This spacious 3-bedroom, 2 full and 1 half bath home offers a thoughtful layout with room to live, work, and entertain in comfort. From the moment you arrive, the covered front porch welcomes you inside to an inviting interior featuring hardwood floors throughout the main living spaces. Just off the entry, you’ll find a private office with a lovely bay window overlooking the front yard, perfect for working from home or a quiet retreat. The eat-in kitchen is filled with natural light and offers plenty of cabinet space, flowing seamlessly into both the spacious living room and an additional family room complete with a wet bar sink area, ideal for hosting gatherings. A sunroom with two skylights adds even more flexible living space and brings the outdoors in year-round. The primary suite is a true retreat, featuring a large main custom walk-in closet plus two additional walk-in closets for exceptional storage. The ensuite bath includes separate vanities for added convenience and a walk-in shower with seating and a skylight creating a bright and spa-like atmosphere. Two secondary bedrooms are connected by a Jack-and-Jill bath with a modern updated walk-in shower. A hallway lined with extra storage and a dedicated laundry room add even more functionality to the home. Outside, you’ll appreciate the large driveway with an electric gate leading to a rear-entry garage with ample parking space, extensive cabinet storage, and even a separate shed for additional storage needs. Located in a desirable community just minutes from Arlington’s Entertainment District, dining, shopping, and with quick access to major highway I-30, this home offers both comfort and convenience in an unbeatable location. Step inside, fall in love, and imagine the memories waiting to be made here!
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.
