Welcome to this charming, recently updated 3-bedroom, 2-bathroom single-story home offering 1,944 square feet of comfortable living with modern upgrades throughout. Tucked away in a quiet area of Gatesville, this property offers the perfect blend of privacy and scenic backyard views—ideal for relaxing evenings or entertaining guests. The home has seen numerous improvements, including energy-efficient windows with a transferable warranty, vinyl wood flooring, garage door and opener, and a hot water heater. A newer HVAC system, along with updated ductwork and added attic insulation, ensures year-round efficiency and comfort. Inside, the guest bathroom has been thoughtfully remodeled and features a heated jetted tub, while the primary bath includes fresh paint and updated lighting. The kitchen is equipped with newer appliances—including the refrigerator, stove, microwave, and dishwasher—along with an upgraded faucet and garbage disposal. Additional updates include select fresh interior paint, updated ceiling fans, new electrical covers, and a laundry room with a utility sink. Outdoor living is where this property truly shines. Enjoy a screened-in patio with a relaxing hot tub, a saltwater above-ground pool with deck, and a fire pit area—all overlooking a spacious, open backyard. Exterior enhancements include new fence gates, added pavers, and gravel landscaping. A workshop with electricity provides excellent space for projects or storage, and electric has already been run to both the hot tub and deck. There’s also an RV hookup with electric in place. Move-in ready and packed with upgrades, this Gatesville gem offers comfort, functionality, and space to enjoy—schedule your private showing today!
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.
