Over 3000 sq ft of great living in this impeccably maintained D.R. Horton built home in Tuscany Meadows. A perfect blend of modern style, smart design. The open concept layout enhances space & natural light, boasting 4 bedrooms & 3.5 baths. Inside, the foyer leads past the minor bedroom wing to the heart of the home: the main living areas, featuring a formal dining room defined by elliptical arches, a voluminous living area, and a stylish kitchen boasting a bevy of cabinets & granite topped counters, stainless steel appliances, & a spacious island that seamlessly connects to the adjoining breakfast area, ideal for casual gatherings & refined entertaining. The main-level primary suite offers a bay-window with a wide-screen view of the backyard while providing a tranquil escape with a beautifully appointed bath, complete with a deep soaking tub for relaxation & a separate shower. A guest powder room is cleverly tucked into one of the hallways. The interior laundry room links to the dual car sized garage, which is equipped with garage door opener, water softener, overhead storage shelving, and epoxy coated flooring. The switch-back staircase ascends to the second level that houses a large loft/game room, the 4th bedroom with adjoining full-size bath, & an expansive media room complete with a wet-bar, perfect for casual family movie nights or hosting friends. Kick back & relax on the covered patio which has also been upgraded to epoxy coated flooring. The full yard sprinkler system presents a lush lawn, dotted with a nectarine and a plum tree! The home itself also delivers fun & functional features.
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.
