MODERN ELEGANCE meets TIMELESS CHARM! This stunning transformation of an enchanting home is sure to capture your heart!! EVERY room has been meticulously upgraded with a minimalist design, featuring luxury vinyl flooring throughout, new LED lighting & ceiling fans, doors and hardware, fresh interior and exterior paint, high-end fixtures, and a linear fireplace that adds a touch of sophistication. Step into the beautifully remodeled open concept kitchen featuring quartz countertops, stylish backsplash, stainless steel vent-a-hood and appliances including 6 burner gas cooktop with grill, gold pot filler, double convection oven, shaker style 48 inch cabinets with soft close doors & drawers with gold pulls, large island and gold pendant lighting! Completely remodeled bathrooms where modern finishes create a luxurious and spa like atmosphere--You'll never want to leave home! FLEXIBLE FLOOR PLAN: The 4th bedroom and media room are interchangeable—other potential uses are as an exercise room, home office or kids playroom. Nestled on an OVERSIZED corner lot, with mature trees, this home offers both ample space for kids and pets to play, and a new 8' privacy fence for a pool and to entertain on your new deck! A sizable outdoor shed is easily accessible for all your storage needs. More upgrades include new 30 year roof, energy efficient windows, rain gutters, upgraded attic insulation, electrical panel, garage door opener, garage epoxy floor, plus a full size utility room! Conveniently located, just minutes from major highways, three parks, shopping centers, the University of North Texas, a hospital, highly acclaimed Richardson schools, and Canyon Creek Country Club and Golf Course-you'll love the blend of convenience and practicality. Don’t miss the chance to see this remarkable transformation. 1 percent of loan amount offered back to buyer for closing cost or lower interest rate! Give your loved one the peace of mind this home offers.
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.
