2900 Cedar Ridge Ln, Fort Worth, TX 76177
4 beds · 3 baths · 2,256 sqft
Get a free consultation call with an expert in the mortgage assumption process.
The seller is now offering $2500 in concessions for either carpet allowance or to help the buyer buy down their interest rate. This property also offers a qualifying assumable FHA mortgage at a 4.375 interest rate with Lakeview Mortgage. The unique floor plan offers an open living area with 3 bedrooms-2 full baths down, an office that could be a play room, music room or 5th bedroom. Downstairs is a large eat-in kitchen with ample storage space, bar counter and seating for those quick meals, and opens to the dining and living areas. Utility off the kitchen. Plenty of windows across the back for that indoor-outdoor feel. The primary suite is off the kitchen with large windows to look out back, walk-in closet, garden tub and separate shower. The 2nd level also provides opportunity for flexibility with a staircase and door for privacy at the top. It is currently being used as the 4th bedroom; the space is large enough to make into a small suite for guests, in-laws, adult children with walk-in closet and full bath OR use it as a game or media room. Only a short walk to the community pool-playground; short drive to Tanger Outlets, restaurants and 35W for quick access to the metroplex. Fenced backyard on a corner lot with covered patio.
Source: NTREIS #20705946
All values shown are estimated costs / mo.
Source: Public records
Source: NTREIS #20705946
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.