$5,000 in Seller Concessions!!! Experience the charm of this move-in ready single-story home, nestled in the coveted Stillwater Ranch community. Offering a multitude of modern upgrades and amenities, this home is the ideal sanctuary for families, first time buyers, or anyone seeking a comfortable, turnkey residence. Take advantage of a vibrant neighborhood lifestyle with two pools, a well-equipped weight room, playgrounds for children, and basketball, tennis, and pickleball courts. Explore scenic walking trails throughout the community, perfect for leisure and exercise. This beautifully designed home boasts three generous bedrooms and two full bathrooms, ensuring ample space for relaxation and privacy. Enjoy the bright and airy living area, featuring contemporary finishes and stylish window coverings, creating a welcoming atmosphere for both everyday living and entertaining. The heart of the home, the kitchen presents with 42" cabinets. Move in with peace of mind knowing all major appliances, including the refrigerator, washer, and dryer convey with the sale. Benefit from a host of recent enhancements, including a new water heater, water softener, and garage door opener, all installed within the last two years. This home is equipped with advanced technology, such as a Ring doorbell, multiple security cameras for the patio and garage, a smart keyless entry, and MyQ garage door sensors for convenience and security. Enjoy a sprinkler system and raised garden beds, primed for planting your vegetables and fruits. Other extras that convey with the property is the lawn equipment (gas mower, electric weed eater, blower, and hedge trimmers) to keep your yard looking pristine. Heavy-duty rolling garage storage shelves for optimal organization, patio furniture, plus an optional kitchen table and office furniture, making it easy to settle in. The property is situated on a serene 5 street section of the neighborhood, with a single entry point for added tranquility and safety that is ideal for families! This home presents a unique opportunity as the seller is downsizing. Don't miss out on this fantastic offering in Stillwater Ranch!
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.
