This functional 4 bedroom, 4 bathroom townhome is situated in the highly sought-after area of Cypress, with its highly rated school system. Built in 2015, this home offers modern features with 3 of the rooms having its own full bathroom and the 4th full bath just outside of the 4th bedroom. This home offers adjustable lighting to allow warmth and an inviting living environment. The 2 car Garage is located on the ground floor, along with one bedroom, its own full bathroom and access to the exterior patio. As you head upstairs to the main level, you will find a great-room style living area, where the family room spills into the kitchen. The family room features a gas fireplace and a wall full of windows to allow natural light in. The kitchen features dark cabinetry, brand new stainless steel appliances, granite countertops, high ceilings and a peninsula style sitting area. The 4th bedroom and bathroom are located on this level. Going up to the top level you will first find the closeted laundry area and folding area/storage. The spacious primary suite is flooded with natural light from the multiple windows and features a walk in closet and ensuite with dual sinks. The adjacent junior suite features a spacious room with a walk-in closet and its own ensuite bathroom. This home also has a high efficient tank-less water heater, central air conditioner and heat. In addition to the new appliances, this home features brand new carpets and paint throughout. The Community amenities include a parking lot, picnic area with tables, BBQ pits, and green pastures around the community. This home is conveniently located in a prime location close to great schools, shopping centers, and fantastic restaurants. This is the best value in Cypress!!
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.
