MOTIVATED SELLER! ASSUMABLE FHA 2.875% INTEREST RATE!! Experience peaceful country living where a hilltop setting provides privacy, open views, and a welcoming home designed for comfort and flexibility. This property offers a thoughtful layout, quality finishes, and the added value of a full shop and apartment, creating a rare opportunity in the 76088 area. Inside, the home features an oversized primary bedroom with plenty of room for a sitting area, workspace, or additional furniture arrangements. The primary bathroom includes a large walk-in shower with body jets, offering a spa-style experience and generous space for everyday comfort. The main living area centers around a floor-to-ceiling stone fireplace, creating a warm focal point for the open layout. The kitchen includes granite countertops, a large center island, and efficient cabinet storage, providing a functional workspace for cooking and gathering. The secondary bedrooms offer comfortable layouts with standard closet space, and the bathrooms provide clean, practical designs. A dedicated utility area and flexible dining space add to the home’s everyday convenience. Outdoor living is a highlight, with a covered back patio featuring its own fireplace, creating a year-round space for relaxing, entertaining, or enjoying an evening fire. The large shop with electricity and a full attached apartment remains one of the most versatile features of the property. The shop provides extensive storage, workspace, and parking options for equipment, tools, or hobby-related uses. The apartment includes a full setup ideal for multigenerational living, guest accommodations, rental income, or a private office. This combination offers rare flexibility in the Weatherford 76088 area. The property is situated outside of city limits with low tax rate, and direct access to Weatherford, Mineral Wells, Millsap, and a short drive to Possum Kingdom Lake!
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.
