Discover a perfect blend of rural serenity and modern luxury at this spacious farm and ranch property, only 15 minutes from the conveniences of Abilene. Nestled beyond city limits, this one-acre estate offers room to breathe, with oversized features throughout every corner. Built for peace of mind, the home boasts multiple fire redundancies and a state-of-the-art HVAC system, complete with hospital-grade filtration and a UV light chamber, ensuring the highest quality air. Inside, find expansive spaces designed for comfort and style. Durable wood-look tile flooring runs through the home, adding warmth and elegance. The heart of the home, a kitchen with a massive island, awaits your culinary adventures. The flexible space can easily transform into an office or formal dining room, while the inviting family room features a built-in safe room or gun vault and a unique in-wall humidor. Retreat to the massive master suite, complete with dual closets, luxurious ensuite bath equipped with a bidet, heated seats, automatic lid, and a shower with full body sprayers. Oversized guest bedrooms provide plenty of space, and the expansive living room is perfect for gatherings. An oversized laundry room enhances daily convenience. Surrounded by mature trees, the property also features a large, practical circle drive, a shop equipped with electricity and a wood-burning stove, a conex building, and a large dog run with a converted building serving as an extra-large dog house. Embrace sustainable living with an on-site chicken coop, and the storm cellar offers peace of mind during Texas weather. Water well on property but not warrantied as the owner hasn't used, this property combines the charm of country living with modern comforts and highly rated Clyde schools. Make this Clyde retreat your next sanctuary, where every day feels like a getaway.
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.
