Beautiful single-story home built by Legacy Custom Homes offering 2,544 SF in a prime location within highly sought-after Allen ISD. Situated on a corner lot in a quiet cul-de-sac, this property features alley access to a rear-entry two-car garage, providing added privacy and curb appeal. This well-designed home includes 3 or 4 spacious bedrooms and 2 full bathrooms and one half bathroom with an open and functional layout. With access to hallway and a full bathroom, the 4th bedroom with glass French doors currently utilized as office. The primary bedroom offers a complete ensuite bath with jetted tub, separate shower, double vanity + his and hers walk-in closets. Secondary bedrooms are generously sized with ceiling fans and ample closet space. The main living area is anchored by a striking wraparound fireplace with marble hearth and classic mantle, creating a warm focal point ideal for everyday living and entertaining. Kitchen and living spaces flow seamlessly, highlighted by granite countertops, oversized center island lit by natural sunlight and fresh paint with updated textured ceilings. Plenty of storage space with tall cabinets, beneath the granite counter island and pantry. The chef in you will love the gas stovetop, deep double sink and plenty of counter space. Additional features include a separate utility room already plumbed for a sink or space for a freezer adding flexibility and convenience equipped with cabinets and shelving. Enjoy outdoor living under the covered patio with stamped concrete, perfect for relaxing or hosting gatherings and large enough for coolers, grill and picnic table. Located near shopping, dining, and major commuting routes while still tucked into a peaceful neighborhood setting. Move-in ready and designed for comfort, this home offers a great opportunity in an established community. Turn key ready for having friends and co workers for your house warming party. Don't skip the 3 D tour here and on the web.
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.
