Modern Farmhouse Showstopper Within Walking Distance of Lake Grapevine! Built in 1969 but taken to studs in 2020! This stunningly remodeled Modern Farmhouse is talk of the neighborhood. Located just two blocks from the lake in highly desirable Flower Mound, this home turns heads with its curb appeal & charm. People slow down just to take a second look! Set in a quiet, tight-knit community that backs to Corps of Engineer land, enjoy direct access to scenic hiking & biking trails, plus a private neighborhood boat ramp for days on the lake. Inside, you’re welcomed by a spacious open floor plan with soaring 10-foot ceilings & wood flooring throughout the main level. The downstairs primary suite is a peaceful retreat, complete with a private patio shaded by a majestic oak tree & an ensuite straight out of a magazine. A precious office located across from the master makes remote work a breeze. A large bonus space off the kitchen that can be used as a formal dining room, game room, extra living room...wherever your imagination takes you. The open kitchen design boasts beautiful granite countertops, stainless steel appliances, stylish lighting, & a perfect layout for hanging out. Upstairs, a spacious loft connects two secondary bedrooms and a large bath—perfect for family or visitors. There's even a cute mud room cutout by the garage. Seller absolutely loved this home & neighbors - come see why. Recent upgrades: Fresh interior paint (2025) New roof & gutters (2025) Smart Vivint Home Security System with front & back cameras Smart thermostat + smart garage lift New backyard fence & drought-resistant landscaping (2025) Energy-efficient & privacy window tinting on front windows & ensuite bath (2025) New epoxy-coated garage floor (2025) Septic system pumped (April 2025) All of this, in top-rated school district & minutes from the water. Perfect blend of style, smart upgrades, and unbeatable location.
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.
