146 Mimosa Silk Ct, Montgomery, TX 77316
3 beds · 2 baths · 1,924 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Meticulously maintained Chesmar townhome in the heart of Woodforest. This premium end of cul-de-sac greenbelt lot has no neighbors on one side or behind. You can take in tree-filled views from the wall of windows in the family room, dining room, and kitchen, all of which feature high ceilings and neutral tones. The island kitchen comes with a gas range, plenty of cabinet space, a spacious pantry, and upgraded granite countertops. From the kitchen, you can access the 2nd story balcony. The private oversized primary suite includes a tray ceiling and sitting nook. The primary bathroom is equipped with a walk-in closet, double sinks, a soaking tub, and a separate shower with a bench. Downstairs, you'll find two secondary bedrooms, a full bathroom, and a large game room. The home is bathed in natural light and features a fully fenced backyard with a large deck perfect for entertaining. Convenient access to all of Woodforest's amenities, including parks, pools, schools, shopping, and dining.
Source: HAR #2868497
All values shown are estimated costs / mo.
Source: Public records
Source: HAR #2868497
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.