One-story, recently remodeled 2767 SF home in Saddletree Ranch on a very private 1.4 acre lot with sunset views, ready for your hill country living dreams. This home is a must see inside, completely remodeled including kitchen, bedrooms, bathrooms, laundry room and living room. Outside, the home also benefits from a new roof, nearly all new windows, water storage tank, and newer septic system. For animal lovers you will find several outbuildings in the back including a 2-stall horse barn, chicken coop, and shed, perfect for your animals or easily multipurposed into workshop and storage areas. Inside the flow of this home's design offers an open kitchen, living, dining, with sweeping treetop views overlooking your expansive back deck and private backyard. The updated primary bedroom and bathroom are located on one side of the home, while the remaining 3 bedrooms, 2 bathrooms, and secondary living space are situated on the other side of the home. The main living area is beautifully designed including light oak, wide plank flooring, high-end stainless steel appliances, classic neutral color palette with an statement stone fireplace and beamed ceiling. The secondary bedrooms and bathrooms have modern design splashes to create amazing focal points throughout. The backyard is your hill country oasis where you see nothing but treetops and sunset views from the multi-tiered expansive back decks. The property even includes a dry creek bed at the edge of the property perfect for exploring and countless hours of fun. The horse barn, chicken coop and storage buildings are perfect for your animals or provide additional storage for any need. Come see this charming stone home in one of Dripping Springs most desired acreage neighborhoods located just 10 minutes to downtown Dripping Springs and conveniently also just 10 minutes away from the retail and shopping in Bee Cave. Zoned to DSISD (DSE, DSMS) with a low tax rate, minimal HOA dues, and lovely neighborhood park!
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.
