This home has it all! Custom, single-story Michael Flume-built home with exceptional garage and workshop setup: a 3-car attached garage PLUS a detached, matching 2-car garage/workshop, ideal for car enthusiasts, hobbyists, storage, or home-based projects. Additional updates include a new roof (2025), new pool concrete decking (2023), new vents and ductwork (2023), new flooring (2018), and freshly painted interior and exterior (2022 and 2025). Professionally trimmed oak trees, gutters with leaf guards, a water softener, a concrete wall along the back driveway, septic system pumped in 2025, and French drain integrated in front driveway. Move-in ready!The detached shop includes roll-up garage doors, walk-through door, installed cabinets, extra electrical outlets, and a concrete driveway extending all the way to the workshop. Three new LiftMaster garage door openers serve all garage spaces. Set on a beautifully wooded and landscaped ~0.61-acre lot, the property offers privacy, mature oak trees, lush carpet grass, and a fully fenced backyard. Outdoor living is anchored by an in-ground saltwater swimming pool with a new heavy-duty safety cover and surrounding concrete deck-perfect for relaxing or entertaining in a peaceful, park-like setting. The home is conveniently located in Lake Ridge with neighborhood boat ramp access to Lake McQueeney, and just minutes from shopping, dining, and the future New Quest development planned along FM 78, offering both convenience and long-term value. Inside, this well-maintained four-sided brick home features 2,807 square feet with 4 bedrooms plus a dedicated office, 2.5 bathrooms, and a desirable split-bedroom layout. Interior highlights include crown molding, raised box ceilings, built-in shelving, ceiling fans, and walk-in closets in every bedroom. The kitchen features expansive counter space, walk-in pantry, and new double ovens (2025), offering both functionality and ample storage for everyday living and entertaining. Spacious living room with wood-burning fireplace, two dining areas, and a sunroom overlooking the backyard. Flooring is a stylish and practical combination of tile and luxurious epoxy concrete-no carpet-offering a modern, low-maintenance look that pairs beautifully with area rugs and furnishings. Energy-efficient features include paid-off solar panels and solar screens.
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.
