Best Kept Secret in the Hill Country. Custom Home, Guest House Casita, Huge Workshop, Pavilion on Almost 5 Tree-Filled Acres. Welcome to 201 Thomas Ridge in Burnet, TX, a true Hill Country secret offering serenity, craftsmanship, and versatility just minutes from town. This beautiful custom 3-BED, 2-BA single-story home plus 1-BED, 1-BA guest house casita rests on 4.99 peaceful acres surrounded by mature oaks and native landscaping. Inside, enjoy 10’ ceilings, 8’ doors, crown molding, arches, hand-scraped hardwood floors, and granite counters throughout. The open plan offers seamless living where dining, living and kitchen meld into one. Featuring custom cabinetry, wine rack, tiered breakfast bar, large pantry, stainless steel appliances include glass cooktop, built-in oven, microwave, and dishwasher. Floor-to-ceiling stone fireplace with wood-burning insert and light-and-bright windows make the living room a cozy indoor retreat. The primary suite features a cathedral ceiling, bay window, and a spa-inspired ensuite with a corner soaking tub, tile walk-in shower, makeup counter, and a spacious Texas-sized closet. Step outside to a covered back porch and outdoor kitchen, or host guests in the 22x34 cedar pavilion with power and a hot tub—perfect for entertaining. The 30x46 Mueller steel workshop, featuring roll-up doors to drive-thru, is ideal for RV, boat, classic collector, or all the above. Plus, there’s a 10x12 storage shed, extended concrete drive, and fenced backyard. Impact-resistant shingles (2024), high-efficiency HVAC systems with air purification (2024), 2,800-gal tank for well, security system, and in-wall pest control. Electrical service is on hospital grid for added reliability. Located just 5 miles to Burnet, 18 mi. to Marble Falls, 30 mi. to Liberty Hill, and 60 mi. to Austin, this home combines quiet country living with nearby modern conveniences. Close to the five Highland Lakes for endless outdoor fun. See Notable Features list!
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.
