$10k Seller credit - Beautifully updated single-story home in the heart of Plano, offering quality upgrades and an exceptional location that blends convenience with everyday lifestyle appeal. Filled with natural light, this move-in-ready home features updated flooring, fresh interior paint, upgraded lighting, and new windows throughout. The spacious family room is centered around a cozy fireplace and framed by large windows overlooking the sparkling backyard pool, creating an inviting space for both relaxing and entertaining. The fully remodeled, magazine-worthy kitchen showcases new custom cabinetry, quartz countertops, and stainless steel appliances designed for both style and functionality. Both bathrooms have been thoughtfully renovated with updated cabinetry and elegant stone surfaces. Additional improvements include an updated mudroom, new attic door and ladder, and a new garage door with opener. The seamless indoor-outdoor connection continues throughout the main living areas, all with beautiful views of the private backyard retreat and swimming pool. Nestled in an established Plano neighborhood known for mature trees and oversized lots, the home is just moments from Tejas Park and Connemara Meadow Nature Preserve, offering trails, green space, and outdoor recreation nearby. Convenient access to Highway 121 and US 75 places shopping, dining, and entertainment throughout Plano, Allen, and Frisco within easy reach. Located within Plano ISD and just one block from the elementary school, this home delivers comfort, style, and an unbeatable location. $10k Seller credit
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.
