Discover the ultimate living experience at 8826 Virginia Rye, where space, luxury, and location converge. This magnificent 4,377 SqFt. The residence features 6 bedrooms, 3.5 bathrooms, and 1 office, and is nestled on a corner lot in the sought-after Valley Ranch community, providing ample space for everyone. The property boasts a three-car garage and multiple living areas, ensuring you'll have all the space you can dream of. Enjoy the dedicated theater room for movie nights and an expansive upstairs living area. The kitchen is perfect for entertaining, featuring a beautiful island, extensive cabinet space, and expansive granite countertops, ideal for hosting. The open layout flows seamlessly into the living space, making it easy to entertain. The primary bedroom is conveniently located on the first floor, providing privacy and comfort. The primary bath features a soaking tub, walk-in shower, dual vanities, and a spacious walk-in closet. All secondary bedrooms are generously sized, ensuring that each room is comfortable and spacious. The private backyard retreat boasts the largest shade trees in the neighborhood, providing a serene atmosphere. Enjoy the many upgrades this home has to offer, including ceramic tile, a water softener, sprinkler system, granite counters, and so much more. Located within the Northside ISD, with Kallison Elementary School conveniently situated across the street. Valley Ranch residents have access to incredible amenities, including two resort-style pools with water slides, playgrounds, sports courts, and scenic walking trails, all just minutes from shopping, restaurants, and outdoor activities at Government Canyon State Natural Area. This property presents a unique opportunity to own a spacious home with exceptional amenities. Schedule your showing today.
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.
