1955 Shelman Trl, Fort Worth, TX 76112
3 beds · 2 baths · 1,556 sqft
INVESTORS SPECIAL BEING SOLD AS IS! This charming single-story home is brimming with potential. Inside, the spacious living room greets you with gleaming hardwood floors and elegant crown molding, seamlessly flowing into the eat-in dining area, creating an airy, welcoming space perfect for gatherings. A standout feature of the home is the second living room, boasting a stunning floor-to-ceiling brick wood-burning fireplace, easy-to-maintain tile flooring, and ample space for entertaining or cozy family moments. The primary bedroom is a bright and spacious retreat with hardwood floors and multiple windows that fill the room with natural light. Its en-suite bathroom features a relaxing garden tub and pristine white cabinetry, creating a serene atmosphere. The generously sized guest bedroom offers flexibility for use as a private study or sitting area, while the third bedroom is also well-sized for comfort. The galley kitchen is practical and efficient, with tiled countertops, ample cabinet storage, and an electric cooktop for easy meal preparation. For added versatility, a third living area provides an excellent space for a game room or additional relaxation, opening directly to the backyard patio. The expansive backyard, fully enclosed with a wooden fence, offers privacy and potential for outdoor entertaining. While the home needs some TLC, including foundation repairs estimated at $10-$12,000 and additional patchwork for a total of around $20-25,000, it presents a fantastic opportunity for investors or buyers looking to personalize their dream space. Don’t miss your chance to unlock the potential of this home and make it your own!
Source: NTREIS #20798911
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: NTREIS #20798911
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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.
How do I qualify for an assumable mortgage?
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.
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