FOR AGENTS: Please review all disclosures with your client before inquiring. This is an as-is property that will require updates or improvements, and is best suited for buyers prepared for that scope. Thank you. Located in the heart of highly sought-after Tarrytown, this rare property presents a unique opportunity for owner-occupants, investors, and builders alike. Set on a generous lot, the property combines immediate livability with long-term potential. The existing home provides a comfortable footprint, plus a 300 square foot walk-out basement (not included in the listed square footage), offering additional flexibility for storage, workspace, hobby use, or future creative possibilities. The setting allows buyers to enjoy Tarrytown living today — whether as a primary residence, lock-and-leave retreat, or transitional home while planning future improvements. For those seeking flexibility, the property also presents potential for guest accommodations, furnished rental use, or extended-stay possibilities (buyer to verify all use restrictions and city requirements). Surrounded by luxury homes and ongoing redevelopment, this is also a compelling build or redevelopment opportunity in a location where land continues to become increasingly scarce. Whether you choose to move in, hold, renovate, or reimagine, this property presents multiple paths in a premier neighborhood. Ideally positioned just minutes from Casis Elementary School, as well as Lake Austin, Downtown, Clarksville, and local favorites like Mozart’s Coffee Roasters, Hula Hut, and Lions Municipal Golf Course, this is a rare chance to secure a versatile property in one of Austin’s most iconic neighborhoods. Property is offered as-is, with buyer inspections welcome. Some interior listing photos have been digitally enhanced or virtually modified using AI to better illustrate the space.
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.
