Move-In Ready 3-Bedroom Home with Brand New Roof and HVAC - Killeen, TX Welcome to 2508 N W S Young Drive, a fully renovated 3-bedroom, 2-bathroom single-family home in better-than-new condition. The two biggest expenses a homeowner ever faces - the roof and the HVAC - are both brand new, which means no surprise five-figure repairs hanging over your head. Inside, fresh finishes, a modernized kitchen and bathrooms, and an updated layout that feels open and livable. The living room is anchored by a fireplace - the kind of feature that turns a house into a home on cool Central Texas evenings. The primary bedroom has an ensuite with a walk-in shower; bedrooms two and three share a second full bath. The converted garage adds a second living room - use it as a family room, media room, home office, gym, or guest area. Outside, the lot opens up to a big backyard with mature shade trees and a storage shed already in place. Room to roam, garden, host weekend cookouts, or set up a workshop. The mature canopy keeps the yard cooler in Texas summers and gives the property a settled feel you won't find in new construction. The neighborhood is a quiet, established family area in central Killeen. Minutes to Fort Cavazos main gate and AdventHealth Central Texas, fifteen minutes to Seton Medical Center Harker Heights and Carl R. Darnall Army Medical Center, and minutes from HEB, Walmart, the Killeen Mall, and the airport. Homes with a new roof, new HVAC, full renovation, second living room, fireplace, and a real backyard with mature trees do not stay on the market long.
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.
