505 Cutter Ln Allen, TX 75013
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About this home
VA qualifying assumable option with low interest rate! You will fall in love with this amazing Highland built home! What a beautiful entry with two story ceilings, winding staircase, and built in coat and shoe station. So many improvements luxury vinyl plank flooring, granite counters, designer paints, outdoor kitchen, custom built ins and more. Prepare to entertain in your backyard oasis with a real diving pool, spa, huge patio area, cedar covered porch with cooking station, and tall board on board fence. The kitchen is well appointed with center island, tons of counterspace, breakfast bar and open to the huge living with soaring ceilings. The living room has a warm gas log fireplace and great views of the pool. The private primary bedroom is down stairs and welcomes you in the spa like bathroom with hydro tub, stone counters, glass shower door, and lots of lite. Don't miss the first floor flex room, that could be a great office or chefs pantry. The upstairs loft living room is a great second retreat for watching movies or just hanging out. You also have three nice sized bedrooms, and large second bath. There is room for everyone is this special home. Be the first to yes!!!
Source: NTREIS #20995752
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Close stress-free in 45 days, handled start to finish by Roam.
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If you find a better price on any home, we’ll match it.
FAQs
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.