Welcome to your dream home located in the prestigious Canyon Ridge Estates in Godley, TX. This beautifully designed 4-bedroom, 2-bathroom house is nestled on over an acre of land, offering ample space and privacy for you and your family. As you step inside, you'll find a versatile bedroom off the entry, featuring elegant French doors. This space is perfect for use as an office or a cozy guest room, providing flexibility to suit your lifestyle needs. The living room is the heart of the home, boasting a charming wood-burning fireplace with a stunning stone surround and a classic wood mantle. Built-in features enhance the room's functionality, creating a warm and inviting atmosphere that seamlessly connects to the kitchen. The kitchen is a chef's delight, equipped with a large island that includes a breakfast bar, perfect for casual dining or entertaining guests. Abundant cabinet space ensures ample storage, while the eat-in kitchen area provides a cozy spot for family meals. Retreat to the spacious primary bedroom, complete with an ensuite bathroom that offers a touch of luxury. The ensuite features dual sinks, a relaxing garden tub, and a walk-in shower, providing a spa-like experience at home. Two additional bedrooms share a full-sized bathroom, ideal for family members or visitors. Each room is thoughtfully designed to provide comfort and convenience. The expansive backyard is a standout feature of this property, offering endless possibilities for outdoor enjoyment. An extra slab is available for RV or boat storage, catering to your adventurous spirit. Additionally, a shed provides extra storage space for tools and equipment. This exceptional home in Canyon Ridge Estates combines comfort, style, and practicality, making it the perfect place to create lasting memories. Don’t miss your chance to own this beautiful property in a sought-after location! Seller will be paying off solar panels at closing
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.
