Welcome to 3511 Durham Ave in Brownwood, Texas. This well maintained home offers comfort, functionality, and extra space that gives you flexibility to fit your lifestyle. As you walk inside you are greeted by a spacious living area filled with natural light, creating a warm and inviting atmosphere while the fireplace serves as the main focus point. The layout flows easily into the dining area and kitchen, making it ideal for both everyday living and entertaining. The kitchen provides ample cabinet and counter space along with a practical design that keeps everything within reach. The primary bedroom offers a comfortable retreat with generous space, while the additional bedrooms provide versatility for family, guests, or hobbies. One of the standout features of this property is the bonus room that is not currently included in the official square footage or bedroom count. This space could easily serve as a home office, extra bedroom, craft room, workout space, or playroom depending on your needs. Step outside to enjoy a spacious yard with room to relax, garden, or entertain or simply stay in the large oversized covered patio and enjoy watching the kids play while protected from the elements. Whether you are a first time homebuyer, looking to downsize, or searching for an investment opportunity, this property checks all the boxes for value and potential. Located in a well established sought after neighborhood in Brownwood with convenient access to schools such as Woodland Heights Elementary, shopping, and local amenities, 3511 Durham Ave is ready for its next owner. The Roof was replaced in 2023 and the HVAC in 2019! Schedule your private showing today and come see the possibilities this home has to offer.
3511 Durham Ave, Brownwood, TX 76801
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.
