Ask listing agent about 100% financing option via Cadence Bank preferred lender. No money down and no PMI. Exclusions: ceiling hooks & chandelier light fixture in guest bed, curtain rods, TV mounts. Nestled on a large lot in a quiet cul-de-sac, this 4 bed, 2 bath home welcomes you with charming curb appeal. Inside, vinyl plank flooring can be found throughout and the foyer leads into a bright and open-concept kitchen, living, and dining. Perfect for entertaining, the kitchen offers a center island with bar seating while the dining area has ample space for more formal gatherings of friends and family. Boasting granite countertops, stainless steel appliances, updated cabinet hardware, and a touchless faucet, the kitchen is equipped for all of your culinary needs. The fourth bedroom at the front of the home is perfect for guests or your personal office while the primary suite is a private retreat for owners. The spa-like ensuite bath features a double vanity, soaking tub, and walk-in shower with recently updated tile. The walk-in closet offers plenty of space to store your belongings. The primary bedroom has been refreshed with recently installed vinyl plank flooring to replace the carpet. Outside, the huge backyard is primed for outdoor living and entertaining. Enjoy al fresco dining and relaxing under the shade of the covered patio or spend your weekends gardening, grilling, and playing with kids and pets in the yard. A fire pit is perfect for star gazing on a cool evening. Solar panels provide savings on electrical bills. Beyond your front door, the Presidential Glen neighborhood features a community pool and playground for your enjoyment. Situated 30 minutes from Downtown Austin, Manor offers the perfect blend of tranquility and convenience. ShadowGlen Golf Club is less than 5 miles down the road and Lake Pflugerville offers swimming, fishing, and miles of walking trails just 10 miles away.
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.
