**Charming Retreat on Quiet Cul-de-sac** Discover your dream home nestled in the serene community of Fate, TX. This beautifully crafted 4-bedroom, 2-bathroom residence boasts a 2-car garage and is perfectly positioned on a cul-de-sac lot with no homes directly behind or to one side, offering ultimate privacy and tranquility. Step inside this light-filled home, where an open-concept design seamlessly blends living spaces while providing a cozy and inviting atmosphere. The spacious living room flows effortlessly into the dining and kitchen areas, creating an ideal setting for entertaining or simply enjoying everyday life. Large windows throughout ensure abundant natural light, emphasizing the home's bright and airy ambiance. The heart of the home is the stunning kitchen, featuring crisp white cabinetry and ample counter space that will delight any culinary enthusiast. Designed to accommodate both casual meals and formal gatherings, the kitchen's functional layout offers plenty of room for cooking and entertaining. The primary suite is a peaceful retreat, offering a generously sized bedroom and an ensuite bathroom complete with double vanity and ample storage. The additional three bedrooms are versatile and spacious, perfect for guests or a home office, and all have walk-in closets. Outside, enjoy the serenity of your extended patio with a charming gazebo, perfect for relaxing or hosting outdoor events. The backyard faces a greenbelt, ensuring a peaceful escape from the hustle and bustle of daily life. With such an idyllic backdrop, your outdoor oasis is ideal for savoring the Texas evenings. This brick home offers a rare blend of privacy, comfort, and natural beauty. Enjoy all the amenities and charm Fate has to offer, while also relishing the seclusion and peace this unique property provides. Experience the perfect harmony of style and functionality in this elegant sanctuary.
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.
