Welcome to 608 Love Lane, where space, style, and outdoor living come together in the heart of Royse City. This expansive 4-bedroom, 2.5-bath home offers a versatile floor plan designed for modern living, featuring two large living areas, multiple dining spaces, and flexible room for a home office, playroom, or hobby space. The open-concept layout is filled with natural light and showcases soaring ceilings, neutral paint tones, and durable luxury vinyl plank flooring throughout. At the center of the home, the chef-inspired kitchen offers abundant quartz countertop space, a large island, extensive cabinetry, and plenty of storage for entertaining and everyday living. The oversized primary suite provides a private retreat complete with dual vanities, a spacious walk-in closet, and an impressive walk-in shower built for two. Additional bedrooms offer generous space and flexibility for family and guests. The large laundry room includes extra room for a refrigerator, freezer, or additional storage. Step outside to your own backyard oasis featuring a sparkling in-ground pool built in 2021 and hot tub. With no rear neighbors and privacy fence, you'll enjoy added privacy while relaxing, entertaining, or spending time with family and friends. You'll also enjoy a large covered patio. Conveniently located near shopping, dining, entertainment, and everyday conveniences, this home is also just minutes from the splash park, park and Walker Hawk Sports Complex. Offering exceptional square footage, modern finishes, and a backyard designed for enjoyment, this property is ready to welcome its next owner home.
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.
