**Ask about the 2.75% Assumable Rate!** Welcome home to this spacious and thoughtfully updated two-story, 4-bedroom, 2.5-bath home with a 3-car garage, located in the heart of Heartland. Recent upgrades add both style and function, including rich wood floors and 8-inch baseboards on the first floor, enhanced laundry room shelving with added electrical, and a covered patio with tile—perfect for everyday living and entertaining. (A full list of updates is available in Transaction Desk.) The open-concept kitchen, breakfast area, and living room create a warm and inviting gathering space, while the separate formal dining room at the front of the home offers flexibility as a home office or additional living area. The beautifully updated kitchen features stunning leathered granite countertops, dual ovens, and cabinetry with convenient pull-out drawers—designed to make both cooking and hosting a joy. The primary suite is tucked away on the first floor, offering privacy and comfort with an ensuite bath and walk-in closet. A convenient half bath completes the first floor. Upstairs, you’ll find three generously sized secondary bedrooms, a full bath, and a spacious game room with walk-out access to floored attic storage—an added bonus for organization and hobbies. Step outside to enjoy the oversized, covered patio with tiled flooring, overlooking a large, grassy backyard ready for play, pets, or relaxing evenings outdoors. Located near on-site Barbara Walker Elementary School and Heartland Park—featuring pools, playgrounds, sports fields, a lake, and scenic trails—this home also offers access to Heartland’s exceptional amenities, including a 5,000 sq ft Oasis event center, multiple pool facilities, a dog park, and more. With easy access to I-20 and nearby shopping and dining, this home truly offers the best of comfort, convenience, and community.
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.
