Welcome home to this stunning Texcraft built custom home tucked away on a private corner lot in a quiet cul de sac, sitting on 1.22 acres in the highly desirable Maypearl ISD. This 3,158 sq ft two story offers 4 spacious bedrooms, a media room, and an oversized 3 car garage, all wrapped in high ceilings and abundant natural light. The kitchen is a true showstopper, featuring granite countertops, stainless steel appliances, a large island, a gorgeous breakfast bar, and hand stained wood cabinetry, all set beneath a custom tiled backsplash. Just off the entry, a custom tray ceiling and a beautifully finished half bath make a memorable first impression, while a custom accent wall adds character to the living room. The oversized primary suite is a retreat of its own, complete with a tray ceiling, separate vanities, a garden tub, a separate shower, and a tiled accent wall above the tub for a spa like finish. Two separate AC units keep the home efficient and comfortable year round, with 2 full baths and a half bath rounding out this well laid out floor plan. The entire home has been freshly repainted and features professionally cleaned carpets throughout, making it truly move in ready. Step outside to your own private oasis, covered front and back porches overlook the gorgeous acre plus lot, and the backyard patio is the perfect gathering spot for family hangouts and movie nights under the stars. Enjoy a custom 24x32 framed fire pit area perfect for entertaining, a stone pathway leading through the front, and a second stone & rock pathway winding through the backyard. Mature trees are thoughtfully finished with mulch beds and clean edging throughout, giving the grounds a polished, low maintenance feel. Country living with room to breathe, minutes from everything you need.
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.
