This turnkey property has been freshly updated and is ready for move-in! Be the first to experience BRAND NEW CARPETS and FRESH PAINT throughout! Light and bright, just a smidge over 1800sf, 4 bedrooms, 2 full bathrooms and an office or flex space! The open floor plan in this home gives you the feeling of an even larger space, and the mix of tile, LVP and beautiful new carpet gives your space an elevated flooring upgrade. Your new kitchen is the perfect space to entertain with a peninsula island, granite countertops, gas range, brand new microwave, a plethora of cabinet storage and a walk-in pantry for all your extras. The primary suite greets you with an abundance of space - don't forget, brand new carpet underfoot - natural light and an en-suite primary bath. Your primary bath has room for two with dual sinks, new fixtures and a large walk-in closet. A dedicated utility room means you don't have to pass through dirty laundry every time you head to the garage, and did we mention the garage? Freshly painted 2-car garage is ready for your vehicles, home gym or your toy storage. Your fully fenced backyard with a large patio is perfect for those warm summer nights, string up the bistro lights and pull out the BBQ! Plenty of space for furry four-legged friends, neighborhood hangouts or just a Solo cup for a solo detox after a long day. Located in Eagle Mountain-Saginaw ISD, the Terrace landing community also offers a community pool for it's residents, the perfect way to beat the summer heat with neighborhood friends! At this price, you can't afford not to miss this one - schedule your showing today!
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.
