The property includes an assumable FHA loan at 3.25% interest for qualified buyers, providing the opportunity to step into below market financing, subject to lender approval. Positioned at approximately $145 per square foot, the home represents one of the larger floorplans within this gated section at the current price point. Located in the gated Enclave section of Round Rock Ranch, this 3 bedroom, 2.5 bathroom home offers 2,376 square feet in Round Rock ISD and is zoned to Gattis Elementary, Ridgeview Middle, and Cedar Ridge High School (buyer to verify). The two story layout includes a dedicated first floor flex space near the entry, suitable for a home office, study, or secondary living area. The main living area features high and vaulted ceilings and a fireplace, with the kitchen opening directly to the family room. Kitchen elements include a center island, breakfast bar, pantry, and adjacent breakfast area, along with two total dining spaces. All bedrooms are located upstairs, creating separation between living and private areas. The primary suite includes a walk-in closet, and the home offers an in-law style configuration with multiple functional zones. Exterior construction consists of masonry on all sides with brick veneer and HardiPlank-type siding. The property sits on approximately 0.092 acres (4,008 square feet) and includes automatic sprinkler systems. A front-facing two car garage provides direct access. Residents of Round Rock Ranch have access to two community pools, park areas, playgrounds, and controlled gated entry points within the Enclave section. Conveniently located near Gattis School Road with access to major corridors, this home combines gated neighborhood living, Round Rock ISD zoning, and a larger square footage footprint within the under $350K range.
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.
