LOVE WHERE YOU LIVE. The Trails at Craig Ranch offer resort-style & fitness-friendly living in an ideal location. 5904 Rutland Drive features stone & brick exterior with covered front porch and mahogany door with windows. The spacious floor plan is awash in natural light and has hardwood floors running throughout the study, living, dining and kitchen. A dramatic floor to ceiling stacked stone gas burning fireplace is the focal point of the living area. Kitchen features custom Clio Luna Stone & Glass Mosaic backsplash with under mount lighting, custom vent hood, quartz counters and full width pot and pan drawers. Property has been impeccably maintained. A perfect property for low maintenance lifestyle. A private court yard features covered patio and curated landscaping with stone walking path. Cyclists will love bicycle boulevards leading to trails across DFW. Golf enthusiasts will enjoy close proximity to the Byron Nelson Tournament and have private & public options nearby with TPC Craig Ranch, Stonebridge Country Club, The Golf Club at Twin Creeks & The Courses at Watters Creek. Steps away from LifeTime Fitness, offering members 12 lighted outdoor pickleball courts, 50-meter outdoor heated pool, dedicated studios for barre, cycle, pilates & yoga, group fitness studios, sauna & steam room, a full LifeCafe, an outdoor fire pit with TVs & state-of-the-art workout equipment floor for cardiovascular and strength training. Nearby District 121 & HUB 121 offer dining & entertainment. Convenient access to major highways including US 75, Sam Rayburn Tollway & Dallas North Tollway. Minutes from Legacy West, Downtown McKinney, DFW Airport & Love Field. Dog park. Playground. Highly sought-after Frisco ISD. Walk to Shauna K. Wortham Intermediate School, the first of its kind in Frisco ISD for 5th & 6th graders, blending an elementary & middle school schedule and curriculum for students. 3 car tandem garage. 3D tour.
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.
