Welcome to this beautiful 4-bedroom, 2.5-bath home with an overside 2-car garage with epoxy floors , built in 2017, located in the highly desirable gated community of The Colony in Bastrop. Situated on a corner lot with no neighbors on the south side, this property offers additional privacy along with a spacious backyard perfect for relaxing, entertaining, or outdoor activities. This spacious home features a functional and inviting floor plan designed for comfortable living. The home offers a formal dining room for gatherings and special occasions, while the open-concept living area flows seamlessly into the breakfast dining area and kitchen, creating the perfect space for everyday living and entertaining. The kitchen is well-equipped with abundant cabinet space, a center island, and a gas stove, making it ideal for those who enjoy cooking and entertaining. The living area and breakfast dining room feature a wall of windows across the back of the home, allowing plenty of natural light to fill the space and providing beautiful views of the backyard. With four bedrooms and two-and-a-half baths, this home offers flexibility for guests, a home office, or growing families. Home has a new roof C3. The thoughtful layout provides both comfort and practicality. Located in The Colony’s gated master-planned community, residents enjoy a peaceful setting surrounded by nature with convenient access to Highway 71, Austin-Bergstrom International Airport, Tesla, and downtown Austin. Come out and see for yourself how nice this home is and all the wonderful features it has to offer.
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.
