SELLER IS MOTIVATED. Seller could potentially carry temporary with qualified terms and qualified party, offers and offers are encouraged. Recently Updated 5 Bed, 4 Bath Home – 4,131 Sq Ft, Grand Prairie, TX. Price reduction in light of possible repair to one of the AC units, and oven. Welcome to 4816 Tuscany Ln., Grand Prairie, TX 75052—a stunning, move-in-ready home located in the highly sought-after Lake Parks North community. Built in 2011, this expansive 4,131 sq ft residence has been thoughtfully refreshed with modern updates throughout. Features & Highlights: -Fresh interior paint throughout the home -Brand-new carpet throughout the home -Stylish cosmetic upgrades that elevate each room’s appeal -SPACIOUS OPEN-concept layout—perfect for gatherings and everyday living -Modern kitchen with ample cabinetry, updated appliances, and generous counter space -Luxurious primary suite with a spa-inspired en-suite bath -Four additional bedrooms, ideal for family, guests, or office space plus a media room. This home offers both comfort and functionality with plenty of natural light, two living areas, and flexible spaces for work or play. The large backyard provides space for entertaining, gardening, or relaxing under the Texas sky. Location Perks: -Nestled in a vibrant, family-friendly community -Close to local parks, schools, shopping, and dining -Easy access to major highways for smooth commuting Don’t miss your chance to own this beautifully updated home that truly has it all—space, style, and location. -Schedule your private showing today make 4816 Tuscany Ln your forever home!
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.
