Small town charm meets modern comfort here at 1027 Shady Circle in Lexington! Nestled in a quiet, established neighborhood surrounded by mature trees and friendly neighbors, this inviting home offers the perfect blend of warmth, style and convenience. Spanning over 3000 sf with 3 bedrooms and 2.5 baths, the main home is generous in size yet wam and welcoming. Outdoors the 1.6 acre lot boasts a backyard oasis with an inground pool, sport court, pool house or guest house, 2 bay workshop with attached carport and so much more. Step inside to find a bright and open floor plan designed for everyday living and easy entertaining. The heart of the home features a spacious living area that flows seamlessly into the dining and kitchen spaces - great for gatherings or relaxing evenings at home. The newly remodeled primary bath exudes spa like appeal, showcasing stylish finishes, updated fixtures, and a modern design that feels both elegant and relaxing. The guest bath has also been beautifully renovated, ensuring comfort and charm for family and visitors alike. With generous natural light, fresh paint and tasteful updates throughout, every detail of this home has been curated to enhance both beauty and function. The property sits on a roomy lot with a peaceful backyard - great for weekend barbecues, gardening or simply enjoying the serenity of small town living. Located in the heart of Lexington, this home offers the best of both worlds: slower pace and community spirit of rural Texas with quick access to larger towns and major highways. Enjoy being a short drive to Giddings, Rockdale, Taylor, Elgin, Austin and Bryan/College Station. Whether you are a first time homebuyer, downsizing or simply seeking a peaceful retreat, this home delivers comfort, small town charm and convenience all in one beautiful package.
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.
