Welcome to 9920 Chaparral Pass, a beautiful Graham Hart 2021 built home in Benbrook designed for easy living and entertaining. Right off the entryway is a versatile front flex room that makes a perfect home office or can easily be utilized as a large 4th bedroom to fit your needs. Enjoy the clean, seamless look and easy maintenance of upgraded ceramic tile flooring that runs throughout the entire house. That's right, no carpet! The heart of the home is an inviting living room anchored by a restful gas fireplace, perfect for relaxing evenings. Overlooking the living area is a true chef's dream kitchen, standing out as one of the few properties to feature built-in double ovens, along with an incredible amount of cabinet and counter storage to keep everything organized. The primary bedroom is at the back of the house with plenty of space and natural light. Attached you will find the large ensuite bathroom with dual, separate vanities and an oversized garden tub and a large separate shower. This bathroom was upgraded and well designed! At the end you will find the primary walk-in closet that has plenty of room for all of your belongings. Step outside to relax, grill, or host guests on the extended back patio, offering the ideal outdoor retreat. An outdoor gas line is ready for the new owner. The backyard is the perfect blank canvas for those that want a pool in the future! In the garage you will find a NEMA 14-50 Plug to charge your electric vehicle or power heavy equipment. With its rare upgrades and highly adaptable layout, this move-in-ready gem is waiting for you to call it home! Previous buyers backed out without reason! Make this house yours 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.
