WHAT WOULD YOU DO WITH YOUR TEXAS ACRE! Drive through the community & see the variety of choices your neighbors have made. This was the model home when this community was born. The garage was originally completed by the builder as a Model Office when built & has been enjoyed as large Great Room by owners since GIVING THIS HOME MUCH MORE LIVABLE SQUARE FOOTAGE THAN MOST OF THE HOMES HERE. This also allowed for a large Walk-thru Pantry - Extra Storage room off the Kitchen leading to oversized Laundry Room and a large parking area with easy access to the home. French doors lead to a large covered patio off the the formal living room. The Primary boasts 2 separate closets to keep everyone happy! Carpet in secondary bedrooms was replaced in July 2025. The acre lot offers plenty of space to add an attached garage. And maybe you want a Workshop & storage for Big Toys. With all this space you could also add a Pool, Garden, Trampoline or just enjoy the open, spacious yard while you relax on the patio & listen to the birds. The property backs to greenspace & the city of Allen bekoning you to all the things neighboring Allen has to offer from tons of restauants, shopping, sporting events & The Farm - a 135 acre mixed use development catering to the communities surrounding it. 2025 was a busy year for this home. The Roof & Gutters were Replaced, Foundation Repaired & Cast-Iron Pipes replaced with PVC. The Original septic tank was remved & updated to an Aerobic Septic System with Maintenance contract in place. Sure it needs some cosmetic updates. We thought you'd appreiate getting to make it your own instead of us making all those choices for you.
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.
