Discover modern living at its finest with this delightful single-story residence in Little Elm's picturesque Prairie Oaks development! Served by Denton ISD with close proximity to everyday essentials like Costco, Sprouts, Walmart, H.E.B., and Super Target coming soon, this community provides a friendly atmosphere with nearby recreation at Lake Lewisville and local parks. This David Weekley-built Cascade floor plan strikes a perfect balance between comfort and convenience. Step inside to an open floor plan that seamlessly connects large living and dining spaces, ideal for hosting or relaxation. The split bedroom layout offers enhanced privacy, with the primary suite strategically tucked at the back of the home and separated from the other bedrooms. The kitchen, a true chef’s delight, features upgraded stainless steel appliances including 5-burner gas cook top with vented hood above, built in microwave, and gas oven. A reverse osmosis 3-filter water softening system, walk in pantry, plenty of stained wood cabinetry, and an abundance of countertop space complemented by crisp white subway tile back splash, will make meal prep a joy. Outdoor enthusiasts will appreciate the home’s exceptional exterior features. The property greets you with charming curb appeal including beautiful purple butterfly bushes accented with low-maintenance, blooming purple queen. A large covered patio awaits you in the back with two upgraded ceiling fans, perfect for leisurely afternoons or evening gatherings. Set on a level lot, the fenced backyard backs to a serene, HOA-owned and maintained greenbelt, ensuring no neighbors immediately behind and providing a peaceful retreat right at home. The garage measures 22 feet in length allowing extra space for oversized vehicles. Both the garage and patio floors boast an elevated touch with a sleek epoxy finish, adding functionality and style. This Little Elm gem combines thoughtful design with modern upgrades, making it a standout in today’s market!
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.
