This custom Plantation Homes home showcases upgrades and flexible living spaces rarely found in Paloma Creek, offering both comfort and versatility in a well designed layout. Step inside this 2,400+ sq ft home where warm luxury vinyl plank flooring welcomes you into an open, inviting space. The kitchen is a true centerpiece, featuring quartz countertops, custom cabinetry, an oversized island, double ovens, gas cooktop, pot filler, and a Smart Samsung refrigerator with striking Morning Blue glass. Designed with privacy in mind, the split-bedroom layout separates the secondary bedrooms from the owner’s retreat. The primary suite lives like a private sanctuary, complete with a 143 sq ft sitting area—ideal for a reading nook, home office, or quiet escape—along with abundant natural light. The en-suite bath offers dual vanities, a garden tub, separate shower, and a custom storage system in the walk-in closet. Flexibility defines this home. In addition to three bedrooms, you’ll find a dedicated study, plus an expansive 260 sq ft loft with its own full bath—perfect as a media room, guest suite, fitness space, or multi-generational living option. Laundry is equipped with Samsung washer and dryer that convey. Step outside to an extended, sealed patio and enjoy the fully equipped outdoor kitchen with built-in gas grill, sink with running water, and cable outlet—ready for game days and gatherings. Additional highlights include a sealed 20x22 garage, custom exterior LED JellyFish lighting system, and a recently installed roof (March). Efficiency meets peace of mind with owned solar panels to be paid off at closing. A pre-inspection report and energy cost summary are available upon request. Located in the sought-after Paloma Creek community in Little Elm, residents enjoy access to four pools, a fitness center, clubhouse, and scenic parks—bringing resort-style amenities right to your doorstep.
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.
