Rare opportunity to own a private estate on 2.4 tree-covered acres in Lovejoy ISD! Tucked away on a quiet cul-de-sac at the back of the neighborhood, this custom home offers exceptional privacy, scenic surroundings, and the freedom of no HOA, allowing flexibility of design while preserving the character of the community. The property showcases beautiful mature trees and backs directly to White Rock Creek where you can fish, explore, or simply enjoy the natural setting, creating a backyard environment that feels more like a private retreat than a typical neighborhood lot. The floorplan is exquisite with a temperature controlled wine room, 5 bedrooms, primary and guest bedroom on first floor, gourmet kitchen, dedicated office, massive game room with cinema, and two fantastic outdoor living spaces. A large covered patio with fireplace creates the perfect gathering place for year-round entertaining, while the recently resurfaced Pebble Tec pool offers a refreshing centerpiece for warm Texas days. A huge covered balcony on the second floor overlooks the backyard and pool, providing a spectacular elevated space to relax, entertain, or take in tranquil Texas sunsets. Inside, the home offers spacious living areas and thoughtful design throughout, highlighted by an incredible tiered media room that truly feels like your own private cinema—perfect for movie nights, sporting events, or entertaining guests. Properties offering this level of privacy, acreage, and outdoor lifestyle are increasingly rare, especially when paired with highly acclaimed Lovejoy ISD and convenient access to nearby shopping, dining, and major commuting routes. With its combination of natural beauty, resort-style outdoor living, and a premier location in one of Collin County’s most sought-after areas, 41 Pecan Grove Circle delivers the lifestyle you've been searching for. Come experience the privacy, space, and charm of this exceptional Lucas property. Hop in the car and come visit today!
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.
