Tucked into the established Park Ridge neighborhood roughly centered between Dallas and Fort Worth, this 5-bedroom, 4-bath home combines an exceptionally functional floor plan with a prime Mid-Cities location. Now refreshed with new interior paint and carpet for a clean, move-in-ready feel, this spacious two-story layout is designed for comfortable everyday living and effortless entertaining. At the center of the home, vaulted ceilings and a corner fireplace define the main living area, where the kitchen, casual dining space, and living room come together to create a welcoming hub for gathering and daily life. A separate formal dining room adds flexibility for hosting dinners and special occasions. The first-floor primary suite offers privacy and generous proportions, featuring vaulted ceilings, a spacious ensuite bath with garden tub, separate shower, and an impressive walk-in closet. Also on the main level is a versatile secondary bedroom with an adjacent full bath, making it ideal for guests, a home office, or multigenerational living needs. Upstairs, a large loft-style game or family room anchors the second level and branches to three more bedrooms, including one with its own private ensuite bath, and all with walk-in closets. An additional full bath serves the remaining bedrooms, creating excellent flexibility for larger households, guests, separate work-from-home space, or evolving lifestyle needs. Outside, the private backyard is shaded by mature trees and offers a comfortable retreat with a covered patio and large custom-built storage shed. Completing the property is a highly desirable 3-car garage offering abundant room for vehicles, storage, hobbies, or workshop space. Located within highly regarded H-E-B ISD, the home is also just steps from Rickel Park and conveniently situated near major highways, DFW Airport, and less than a half mile from Bell Textron. A rare combination of size, flexibility, and location in the heart of the Mid-Cities.
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.
