Welcome to this dream home in the highly desirable Heritage Lake community. Single story home, within walking distant to the lake with a beautifully landscaped walking path. This spacious and well-maintained home offers the perfect blend of location, comfort, and lifestyle amenities. With 2,325 Square feet of living space on a generous 7,405 Square feet lot, the home features 3 sizable bedrooms, 1 bonus room that can serve as an office or fourth bedroom, 2 ½ bathrooms. A courtyard style 3-car garage. The kitchen has granite countertops, a spacious center island, and stainless-steel appliances, and it opens seamlessly to a large family room highlighted by a beautiful tile fireplace—creating a warm, comfortable space for everyday living and entertaining. Has a formal dining room area. Has 5 new ceiling fans and the dishwasher was installed about 8 months ago. This home is enhanced with beautiful interior archways and 9-foot-tall ceilings. The large master suite offers a dual walk-in closet and bathroom retreat with a double sink vanity, separate shower and a bathtub. Step outside to your private backyard retreat featuring a private swimming pool and relaxing green landscaping. A covered California room-style patio with ceiling fan, an ideal setting for outdoor relaxation and gatherings in the evenings. Extended solar capacity system to include 2 Tesla batteries and 16 solar panels. Heritage Lake is a vibrant master-planned community designed for connection, recreation, and convenience. Residents enjoy access to a private lake, scenic walking trails, swimming pool, children’s water park, a welcoming clubhouse, and more. The home is within walking distance to local schools and offers quick access to the lake.
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.
