Rare opportunity to own an updated duplex offering immediate income potential and future flexibility. Situated on a desirable corner lot in the heart of Killeen, this property presents multiple paths to ownership, occupy one side while generating rental income from the other, lease both units, or create the perfect multi-generational living arrangement. Each unit features 3 bedrooms, 2 full bathrooms, a 1-car garage, and spacious, functional floor plans designed for comfortable everyday living. Recent updates include durable vinyl plank flooring and tile throughout, with NO carpet, creating a clean, modern feel while minimizing long-term maintenance. One unit is currently vacant and move-in ready, while the remaining lease is nearing completion, opening the door for future owner-occupancy, tenant placement, or full investment use. This unique setup provides flexibility rarely found in today’s market. Outside, each unit enjoys its own private, fully fenced backyard, a highly desirable feature for both homeowners and tenants. Combined with the oversized corner lot, strong curb appeal, and well-maintained condition, this property stands out from competing opportunities. Conveniently located near shopping, dining, schools, major employers, and Fort Hood, this duplex benefits from consistent housing demand and excellent accessibility. Whether you’re looking to offset your mortgage through owner-occupancy, expand your investment portfolio, or secure a property with long-term income potential, this updated duplex offers the versatility, location, and opportunity today’s buyers are searching for. VA and FHA eligible. Move-in ready. Income-producing potential. The possibilities are endless.
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.
