1.9-acre property! The land features a spacious yard and mature trees, ideal for outdoor activities, gardening or additional development. The members of this very relaxed community have access through a private gate and road the Colorado River! The river offers activities like kayaking, fishing, and riverside picnicking just bring your gear. It’s an ideal place to relax for the day on the water. The property is also strategically located near major employers such as Tesla’s Gigafactory, which is only about 25-30 minutes away, Boring Company and the upcoming X headquarters (formerly Twitter) in Bastrop. Additionally, Austin’s tech hub is accessible, making this location ideal for those commuting to Austin but wanting a peaceful home life. The ongoing development of Bastrop County as a technology and entertainment hub, including the Bastrop 552 film studio, adds to the area’s growing economic opportunities. Local attractions include Bastrop State Park, perfect for hiking and camping, and McKinney Roughs Nature Park, which offers outdoor activities along the Colorado River. Additionally, the nearby Hyatt Regency Lost Pines Resort provides a luxurious escape with golf, spas, and adventure experiences. The charming Downtown Bastrop offers unique shopping, dining, and cultural experiences just a short drive away. The manufacture home is a spacious 1,728 square-foot, 3-bedroom, 2-bathroom home. It's a double-wide manufactured home built in 1999 with lots of potencial.
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.
