Welcome home to this beautifully updated gem nestled on the edge of Main St. in Blanket, Texas. Situated on a spacious, tree-lined corner lot just steps from Main Street, this property perfectly blends historic small-town peace with the luxury of modern conveniences- all just minutes away from the shopping, dining, and amenities of nearby Brownwood. Every inch of this 1,424 sq ft home has been thoughtfully planned out to maximize space and functionality . Step inside to an airy, open-concept kitchen and living space filled with natural light featuring durable vinyl flooring and neutral paint throughout. The fully updated kitchen is at the heart of the home, boasting stainless steel appliances, large island, cabinets for storage, and a gorgeous countertop perfect for hosting. The large master suite has been laid out with a spacious bathroom boasting a nice walk-in shower and his and her sinks.Both additional rooms off of the living space offer cozy retreats with ample closet space ideal for bedrooms or office space and convenience to the second full bath. Outside, your massive corner lot provides a blank canvas—ideal for a large garden, a workshop, parking an RV, or hosting family and friends under the stars. This turnkey property is perfect for first-time buyers, downsizers, or anyone looking for a peaceful Texas getaway. Key Features & Updates: Premium Location: Desirable corner lot right in town. Turnkey Interior: updated flooring, paint, and trim throughout. Modern appliances, updated countertops, and custom cabinets. Fully updated plumbing, electrical, and efficient HVAC system. (2022) Outdoor Space: Huge yard with endless potential for outdoor living or expansion. Move-In Ready: All the hard work is done—just bring your keys!
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.
