Assumable FHA Loan at 4.99%! Located in desirable Buckner Terrace, just minutes from Downtown Dallas and White Rock Lake, this thoughtfully updated home offers a comfortable, flexible layout paired with meaningful upgrades throughout. The beautifully renovated kitchen features white cabinetry, slab granite countertops, subway tile backsplash, and stainless steel appliances including an electric range, dishwasher, and microwave, along with replaced ceramic tile flooring. Formal living and dining spaces provide excellent flex areas and feature a large bay window preserved during the remodel, bringing in abundant natural light. A cased opening connects the living and dining areas to the den—offering a more functional alternative to overly open floor plans. The den showcases a beamed ceiling, wood-burning fireplace with electric logs, and built-in bookshelves and cabinetry, creating a warm, inviting gathering space. The spacious primary suite includes a walk-in closet plus a second closet, and an updated bath with a tub, granite-topped vanity, dressing area with granite countertop, and attractive tile flooring. Two guest bedrooms—one notably large—share an updated hall bath with a granite vanity, raised bowl sink, and replaced tile flooring. Luxury vinyl plank flooring runs through the living areas and hallway for durability and ease of maintenance. Major system and efficiency upgrades include all new Pella windows throughout (including sliding patio doors – approx. $20K), replaced attic insulation, updated electrical service with a new panel, new gutters and a new patio covering designed to maximize natural light. The covered patio overlooks a large, fenced backyard with mature trees and a storage building, offering space to relax, garden, or entertain. A two-car rear-entry garage completes the property.A well-balanced home that blends classic character, smart updates, and flexible living—ideally located in one of East Dallas’s most established neighborhoods.
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.
