SHOWSTOPPER in Mustang Ridge that checks every box! This beautifully designed home offers the perfect combination of luxury and comfort in the highly sought after Mustang Ridge community. Featuring 4 spacious bedrooms, 3 full bathrooms, and high end designer finishes throughout! From the moment you arrive, the stunning double front doors and HUGE front porch set the tone for what’s inside. Step inside and you’ll notice the open concept layout, tall ceilings throughout, abundant natural light, and upscale details that make this home stand out from the rest. The kitchen is truly the heart of the home with stainless steel appliances, quartz countertops, custom cabinetry to the ceiling, a large center island, gas cooktop, double ovens, a large pantry with automatic lighting, and stylish finishes that flow seamlessly into the dining and living areas. The living room offers plenty of room to gather, while large windows bring in beautiful natural light and views of the back patio and backyard. The primary suite is generously sized and inviting! The en suite with dual vanities, a soaking tub, walk-in shower, and an oversized closet with direct access to the laundry room! Secondary bedrooms are roomy and offer great closet space and beautifully finished bathrooms. Step outside to enjoy the covered patio and fully fenced backyard that’s perfect for relaxing or entertaining! The big 3-car garage is a STANDOUT featuring premium epoxy flooring, creating a clean and polished space that’s perfect for large vehicles, storage, and hobbies. The attic is also fully decked, giving you tons of additional storage. This home also includes a full sprinkler system and in ground storm shelter. Mustang Ridge keeps things fun with a playground, pond, holiday events, a 4th of July parade, and even weekly food trucks. Easy access to the highway and turnpike makes getting anywhere simple, with shopping and dining just minutes away, all in Mustang Schools.
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.
