Set within the heart of East Dallas, this home offers a level of freshness and intention that immediately sets it apart. Newer in feel and thoughtfully put together, it carries a sense of ease from the start, clean, cohesive, and well cared for with fresh paint, new baseboards, new front and back doors, and a recently replaced roof backed by a 5 year workmanship warranty, offering the kind of peace of mind that’s hard to find. The kitchen anchors the home with quiet confidence, opening effortlessly into the main living space where natural light moves freely from room to room and out toward the backyard, complemented by designer lighting and a cozy wood burning fireplace that grounds the space and adds warmth. It’s a layout that feels connected without being crowded and works just as well for everyday living as it does when the house fills up. The primary suite is set apart in a way that feels calm and private, while secondary spaces flex easily for work, guests, or whatever life calls for next, all tied together with a consistent, pulled together feel throughout. Out back, the energy softens with an extended concrete patio that gives you room to gather, unwind, and truly use the space without the upkeep taking over. Positioned just minutes from Downtown Dallas and Deep Ellum, you’re close to some of the city’s best dining, live music, and culture, with easy access to Fair Park, green spaces, and everyday conveniences. Zoned to top rated George W. Truett Elementary, this is the kind of home that quietly stands apart, the one you didn’t expect but immediately know is different.
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.
