The seller is giving $5,000 in concessions to help with closing costs! Newly replaced roof with a transferable warranty for added peace of mind! Welcome to this newly remodeled home in Cedar Hill, thoughtfully designed for modern living! From the moment you arrive, you'll be greeted by fresh landscaping with vibrant greenery and rich black mulch. Step inside to discover a bright, open floor plan where natural light pours through the windows, creating an inviting atmosphere throughout. At the heart of the home is the stunning, fully remodeled kitchen featuring quartz countertops, brand-new cabinetry, a classic subway tile backsplash, stainless steel appliances, and a refrigerator that is included with home. The seamless flow between the kitchen, dining, and living room creates an inviting space that's perfect for everyday living and entertaining. A brand-new sliding glass door enhances the space with even more natural light and opens to the spacious backyard patio—perfect for summer barbecues, outdoor dining, or relaxing. The first-floor primary suite offers the perfect private retreat after a long day, complete with an expansive walk-in closet and a beautifully updated spa-inspired en-suite bathroom featuring dual vanities, a separate soaking tub, a luxurious walk-in shower, and a skylight that fills the room with natural light. Upstairs, contemporary black metal railings create a striking overlook to the main living area, enhancing the home's open, airy feel. A generous family room provides flexible living space, ideal for movie nights, a game room, home office, or playroom. Two additional bedrooms offer comfortable accommodations, including one with semi-ensuite access to the remodeled bathroom, providing private access from the bedroom as well as a second entrance from the hallway—ideal for guests or family members. Additional updates include a brand-new roof, freshly painted exteriors, and new doors throughout, making this home truly move-in ready.
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.
