A Brand-NEW ROOF will be installed prior to closing and buyers may select their shingle color. In addition, the seller is offering a $5,000 BUYER ALLOWANCE, giving flexibility to personalize the home, whether toward flooring, closing costs, design updates, or price adjustment. Walk through the door and instantly feel the warmth and character of this beautifully maintained custom home nestled in one of Plano’s most desired neighborhoods. The spacious living room welcomes you with beamed ceilings, a cozy gas fireplace, and a built-in wet bar, the perfect setting for relaxing evenings or gathering with friends. The sunlit breakfast nook carries that same charm with wood beams and peaceful backyard views. This inviting 4-bedroom, 3-bath home offers generous bedrooms with walk-in closets, ceiling fans, new laminate wood flooring in all bedrooms, and ceramic tile in the baths. The hardwood floors in the main living areas have been freshly stained, and the interior has been newly painted, giving the home a clean, bright, move-in-ready feel. Step outside into your own backyard retreat featuring a sparkling pool and spa, two covered outdoor living spaces with ceiling fans and lighting, and a beautifully landscaped yard that includes a butterfly sanctuary lovingly created by the homeowner. Whether you’re enjoying your morning coffee, hosting a barbecue, or watching the kids swim, this outdoor space is designed for everyday living and unforgettable memories. Additional highlights include an oversized 2-car garage with a workbench, a side yard with a storage building and dog run, plus valuable updates such as a newer water heater, pool equipment, and one HVAC unit. You’ll love the convenience of being close to Cheyenne Park and Saigling Elementary, with walking and jogging trails, sports fields, playgrounds, and nearby shopping, dining, and recreation. This custom Plano home offers comfort, charm, thoughtful updates, and a backyard oasis in a location families truly love.
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.
