Located in the heart of ArrowBrooke, this well maintained Bloomfield home combines timeless design with everyday functionality. Inside, the main level features an open living space filled with natural light, highlighted by wood look tile flooring, neutral finishes, five inch baseboards, and modern lighting. A striking accent wall anchors the living room, while two distinct dining areas provide flexibility for daily meals and entertaining. The kitchen sits at the center of the home and offers granite countertops, subway tile backsplash, stainless steel appliances, and an expansive walk in pantry. Nearby, the primary suite is thoughtfully placed on the first floor and includes new carpet, tall ceilings, a window seat, ceiling fan, and double door entry into the private bath. The ensuite is complete with dual vanities, a soaking tub, a glass enclosed walk in shower with decorative tile and built in bench, and a generous walk in closet. Upstairs, a large game room creates additional living space alongside three spacious secondary bedrooms, wide hallways, and multiple storage closets. The home features four bedrooms total, two full bathrooms with double sinks, and a convenient half bath downstairs. Outside, the fully fenced backyard includes a covered patio and sprinkler system, offering plenty of space to relax or host guests. The exterior showcases a full brick facade with gray trim, warm wood accents, mature landscaping, and a wood and iron front door that adds to its curb appeal. Just around the corner are community fishing ponds with fountains and a dock, along with a pool and playground, all easily accessible without leaving the neighborhood. Ideally located near shopping, dining, entertainment, area lakes, and DFW Airport, this home offers a balanced blend of comfort, accessibility, and community living.
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.
