Beautifully maintained 5 bedrooms, 4 full-bath home on fully fenced property in a quiet cul-de-sac. This is a move in ready family home, freshly painted and well maintained in the Grayson High School zone. The spacious open-concept layout includes a grand family room featuring a striking stacked stone fireplace, a formal dining room with seating for 12, and a bright cathedral ceiling living room, also with a fireplace. This lovely kitchen boasts granite countertops, a breakfast bar and big pantry. In addition to ample workspace and storage.Adjacent to the kitchen is a sunny breakfast area, perfect for morning coffee and separate dining. There is a spacious bedroom and a lovely full bathroom located on the ground floor. The upper level consists of three large bedrooms, one with its own full bath & a balcony, and two bedrooms sharing a jack and Jill bathroom. The owners suite also located on the upper level with a private balcony, is an oversized bedroom with tray ceilings, a custom walk-in closet recently renovated by “California Closet, and a newly renovated en-suite bathroom with wall and floor tile, featuring separate his and her sinks, a jacuzzi, and a spaciously tiled standing shower. Enjoy the comfort of dual HVAC system. Laundry room located on upper level. The entire floor on lower level, open spaces and passage newly renovated. Enjoy outdoor relaxation at its finest with a covered front and rare porch. A large attached outdoor store room provides extra storage. The two-car garage compliments a four car drive-way. The beautiful flower garden with customers curb wall all around this lovely house is a sight to behold. This lovely family home is located in Bay Creek Manor, easy access to parks, Bay Creek Park is 154 acres ball fields, a playground, a lighted skate complex, tennis courts and track trail.
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.
