Take a moment to appreciate this gorgeous Grapevine gem where traditional charm meets modern luxury and captivates you from the moment you drive up with its wonderful picture perfect curb appeal. Perfectly nestled on an ideal lot at the quiet end of a peaceful cul de sac this beautiful traditional brick home offers an exceptional blend of timeless style functional space and an unbeatable North Texas location situated next to the scenic Lake Grapevine Horseshoe Trail. The striking brick exterior is beautifully framed by gorgeous native plant scaping meticulously manicured landscaping and a lush lawn that sets a warm inviting tone before you even step through the front door offering immediate access to outdoor adventures. Inside the home it seamlessly continues to impress with bright updated windows and plantation shutters an open floor plan featuring soaring ceilings that create an expansive airy feel and accented by beautiful wood floors and decorative lighting throughout. Not to mention this home has the added value of a brand new roof and a newly replaced AC system for maximum comfort and energy efficiency. Highly coveted for its premier location the property is proudly zoned for top rated GCISD Schools. Residents will enjoy near endless opportunities for upscale shopping local dining and vibrant entertainment options nearby while professionals and travelers alike will appreciate the effortless central commute to both downtown Dallas and downtown Fort Worth as well as exceptionally quick and convenient access to DFW International Airport. Don’t miss your opportunity to see this one in person.
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.
