Like Brand new home 1 owner spotless clean home with an assumable loan at 4.375%! This beautiful home was built in 2022 and is located in the popular gated and guarded community of Canyon Creek! Home details: 3 bedroom, 2 bath, 1533 square feet, attached garage. Open floorpan with all the upgrades! Living room features plenty of windows for ample natural light, ceiling fan, elegant electric fireplace for extra warmth, beautiful accent walls, and beautiful wood look vinyl plank flooring! From the living room you walk into the dining room that offers plenty of space for those evening dinners. Spectacular kitchen features a large granite island perfect for serving quick meals, plenty of beautiful white cabinets, and full stainless appliances. Cooktop stove, built in microwave, dishwasher, and refrigerator. Cottage door from the kitchen for quick access to the backyard. Large master bedroom offers ample room for that king size bed! Ensuite master bathroom features granite countertops, double sinks, oversized walk in shower, and an extra large walk in master closet! Master bath also features a great window feature for natural light. Bedrooms 2 and 3 are super sized! You won't find many guest bedrooms this large and 16 foot L X 11 foot W! Each bedroom features large closets and ceiling fans. Guest bath features granite countertops and a great location between both bedrooms. Completing this custom one owner home is high ceilings, decorative lighting, double pane windows throughout, and an attached garage with opener. Exterior features a very nice covered front porch, sod front and back yard, and a wood privacy fence. This home is also located on one of the few streets with sewer. No septic needed. Canyon Creek community offers a gated and guarded entrance, security patrols, clubhouse, multiple community pools, Lake Granbury access, multiple parks, and a conveniently located community mailbox. Have kids? Mambrino elementary is located just minutes from the community!
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.
