Welcome to Your Private Retreat in the Heart of Temple, tucked away on a generous corner lot in the highly desirable Southern Oaks Subdivision, this beautifully maintained 3-bedroom, 2.5-bathroom home with a versatile flex room offers the perfect balance of serenity and city convenience. Surrounded by mature trees and backing up to a tranquil creek, it’s your own peaceful escape just minutes from everything Temple has to offer. Step inside and experience a warm, welcoming atmosphere with soaring ceilings, an impressive stone fireplace, and an open-concept layout that flows effortlessly from the living room to the kitchen and dining areas, ideal for entertaining or quiet evenings at home. The flex room offers limitless potential as a home office, playroom, guest suite, or creative studio. This home has been lovingly cared for and thoughtfully updated, including: New roof and gutters with fresh fascia paint (2025), Water heater replaced (2022), Insulated garage doors (2024), Freshly painted deck (2024), HVAC updated (2021) and serviced annually, Smart thermostat and Vivint security system for comfort and peace of mind. Step outside to your backyard oasis, complete with a large wood deck, storage shed with lean-to, and a greenhouse, a dream for gardeners, hobbyists, or anyone who enjoys the outdoors. Conveniently located just 10 minutes from Baylor Scott & White, Temple Mall, and a variety of dining and shopping options, this home offers the lifestyle you’ve been looking for. Don’t miss your chance to own this rare gem. Buyer to verify all measurements and school district information if important.
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.
