Meticulously maintained one-owner home in the desirable Sanford Park subdivision within highly-rated Van Alstyne ISD! This stunning 4-bedroom, 2-bath single-story residence offers 1,802 square feet of thoughtfully designed living space with over $27,500 in builder upgrades and sits on a generous 0.170-acre lot. The home boasts an impressive 3-car garage with oversized 20x29 dimensions, gorgeous buff mortar and stone exterior elevation, and welcoming 9-foot ceilings throughout. The chef-inspired kitchen features beautiful granite countertops, a large island perfect for entertaining, and premium stainless steel GE® appliances, including a gas range. Gather in the spacious great room showcasing a striking corner stone fireplace and seamless views to the extended covered patio—ideal for Texas outdoor living. The luxurious owner's suite provides a private retreat with a large shower and dual vanities, while the split bedroom floor plan offers privacy with secondary bedrooms sharing a conveniently located hall bath. Quality upgrades include round sheetrock corners, energy-efficient low-E vinyl windows, radiant barrier decking, a professionally landscaped, fully sodded yard with zone irrigation system, and smart home technology. Built in 2019 by K. Hovnanian Homes with superior craftsmanship and modern convenience, this move-in-ready gem offers exceptional value with low $600 annual HOA dues and easy access to Highway 75 for commuters. Don't miss this rare opportunity to own in one of Van Alstyne's most sought-after neighborhoods!
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.
