Welcome to 2.432 acres of nature that has road frontage on 2 sides. BIG TREES. Front entrance is on Pullman, and you have frontage on Post Oak as well. This is a perfect set up to place a 2nd home for a family member. Mature trees shade the area with a gentle slope to add character. BIG TREES. The all-brick home was built in 1979 with living space of 1796, later the garage was converted into living space, so now the total square footage is 2434. Most importantly, the composition roof and conventional septic system is 10 years old. The HVAC system is 4 years old. BIG TREES. The large fireplace will keep you warm in the living room that is open to the kitchen/eating area that offers solid counter tops and decorative backsplash. Refrigerator will be conveyed to the new owners. Plenty of light shines in from the sliding patio door that leads out to the huge, covered deck. The master suite is not your typical box-shaped room. It offers a unique shape that allows you to be creative with space. Walk in closet and en suite bath. The master has private access to the back enclosed patio. Bedrooms 2 and 3 are larger than average at 15 feet x 14 feet. A full bathroom is located in between these two bedrooms. The converted garage was 638 feet and has been sectioned into two spaces. One contains the washer and dryer hook up, the hot water heater, a work bench and a storage closet, with access out to the side of the home. The possibilities for this room are endless. BIG TREES. The remainer of the garage conversion was used as a bedroom, but also has many options, such as an office, or play area. Both rooms' air is conditioned by window units. The covered deck is spacious and a great area for parties and cookouts. Follow the wood deck path down to the landing that was designed for a round above ground pool. There is a storage area right there ready for all the pool supplies and toys. This home is in the La Vernia school district with a tax rate currently at 1.73. We have an H.E.B. grocery store and lots of boutiques, a few restaurants, a hardware store, a country store, clinics, fast food, historical museum, several gyms, and all the friendly faces you'll ever want to see. This little town is growing fast, so hurry and grab this piece of it quickly. DID I MENTION THE BIG TREES?
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.
