Stunning 2-story home nestled in the gated Subdivision of Valencia Hills. Magnificent and breath-taking community! Upon driving up you will notice the beautiful exterior brick/stone and natural surroundings. Original home owners! Home backs up to a natural greenbelt and offers comfortable privacy. Once you enter the front porch, notice the brushed concrete finish with brick. Upon entering the home, you will see the soaring ceilings with the grand dining area to the left and a private office space to the left as well. The study offers recessed shelving for your personal mementoes and favorite books. Strolling through the rest of the 1st floor, you will find the laundry room with plenty of shelving for storage and pop into the 2.5 finished car garage! While going back through you will see the expanded kitchen area with gas cooking for that chef in the family. Expansive kitchen island with space for seating and entertaining your guests. Granite counters throughout the kitchen and backsplash. Deep walk-in kitchen pantry! Stainless steel appliances and a chefs dream with 2-ovens to help prepare meals for the hungry crowd. Kitchen nook area provides extra space for your family meals. Cozy family room! Beyond an additional hallway, you will notice a planning desk with granite top tucked slightly away. Great for sitting down and organizing your grocery shopping list. Further down the hallway you will notice the 1st secondary bedroom and a full bath with shower stall. Linen closet just outside the bath area. Primary room is quite spacious and offers beautiful bay windows for you to enjoy the natural light and backyard scenery. Enjoy the primary bathroom with an extra elongated tub and large shower area. Walk-in closet provides extra nooks and built-ins for storage as well. Upon going up the wooden staircase you will see a huge game room with a built-in stately desk. Media room to enjoy with a screen and projector ready to go watch your movies! Owner enlarged the size of 2 of the 3 upstairs bedrooms while having the home built. Extra space to spread out and relax! Plus, home offers extra storage closets for your holiday and vacation gear. Linen closets just outside of the 3rd and 4th bath rooms. Once you stroll back downstairs and enter the extended backyard patio, you will notice the beautiful deck/balcony area and the green space. Gas drop at patio for your BBQ outdoor cooking. Vibrant and abundant drought tolerant plants in the garden to the left of the yard. Beyond the wrought iron fence, you will notice seclusion and that added privacy. Visit the pristine community park that offers jungle gym for the little ones and a Little Free Libraries bookstand for those that love sharing books. Sought after NEISD School District. Nearby shopping and dining. Easy access to 1604.
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.
