Thoughtfully updated and full of practical upgrades, this single-story Forest Bluff home delivers style, comfort, and standout backyard function in a fast-growing East Austin location. Located at 15104 Mimebark Way in Travis County with an Austin 78724 postal address, this 3-bedroom, 2-bath home features an open layout with improved flow to the living room, creating an inviting space for everyday living and entertaining. The living room is ready to impress with a fireplace, ceiling-mounted surround sound system, and a large custom projector screen for an elevated movie-night or game-day setup. The refreshed kitchen adds warmth and functionality with repainted cabinets, custom butcher-block countertops, a gourmet sink, new garbage disposal, and a water filtration system. Major updates throughout the home provide peace of mind, including a full HVAC and heating system replacement in 2021, upgraded water heater approximately 2 years ago, roof approximately 10 years old, added gutters, French drains, new ceiling fans, replaced trim, painted bedrooms, updated bathroom tile, replaced toilets, and removal of all carpet. A low 1.65 tax rate adds even more value and affordability. Step outside to enjoy a large prefabricated covered patio, garden area, and a tall 10x12 backyard storage building/workshop complete with electricity, A/C, generous storage, and workspace. Whether you need room for hobbies, projects, tools, or additional flex space, this workshop offers rare versatility for the area. Located only about 1 mile north of the Tesla Gigafactory and approximately 2 miles from a newly planned high school, this location places homeowners near one of East Austin’s fastest-growing employment corridors while still offering neighborhood comfort and accessibility. With visible pride of ownership, refreshed finishes, improved drainage, excellent storage, and inviting indoor-outdoor living spaces, this Forest Bluff home stands out in today’s Austin real estate market.
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.
