Step into luxury with this exquisitely renovated and fully furnished Canyon Lake home, offering approximately 1,600 sq. ft. of refined living space on a sprawling 10,000+ sq. ft. lot. Designed for both entertainment and comfort, this 3-bedroom, 2-bathroom home blends modern upgrades with timeless appeal, creating the perfect retreat. Every detail reflects high quality renovation. A brand-new roof, new air conditioning system with upgraded condenser, air handler, and ducting, and new attic insulation ensure air quality and worry free ownership, while a new electrical panel with a 48-amp EV charger brings modern convenience home. The freshly poured circle driveway and patios—all brand-new concrete—set the stage for elegant outdoor living, complete with ample space for RV and boat parking. At the heart of the home, the luxury kitchen features a one-of-a-kind handcrafted island—both a custom work of art and a gathering place. High ceilings and custom-crafted living and entertainment spaces create an airy, open flow filled with natural light. The living room boasts a beautifully designed fireplace, seamlessly designed with a gallery-style flush-mounted OLED TV—included with the home—combining artful design with cutting-edge entertainment. The primary suite’s luxury inspired bathroom and an updated guest bath provide a modern appeal. Whether you’re envisioning a family’s first home, a private vacation getaway, or a high-performing investment property, this home is ready to deliver. This home comes fully furnished with all furniture included. Situated just steps from the main lake and ski course, you’ll experience the lifestyle Canyon Lake is celebrated for: beaches, parks, golf, a lakeside lodge with dining and pool, and the peace of mind of 24-hour gated security.
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.
