Loan Assumption Available at 3.875%! Welcome to 4607 Kitty Avenue, a thoughtfully updated 2-bed, 2-bath home offering ~1,500 sq ft of flexible living space in vibrant East Austin (78721). Built in 1960, this home seamlessly blends mid-century charm with extensive modern upgrades and inviting outdoor spaces. Step inside to discover a home that has been meticulously improved from the ground up. Major updates include full re-pipe of all plumbing ($70K), new roof, new mini-split heat pump system, several new windows, and a new sliding glass door with a redesigned opening. The owner also replaced most of the exterior siding with durable Hardie siding, restored a previously tiled-over bathroom window, and added soundproofing to select walls for enhanced comfort and privacy. The home’s flexible layout allows it to live as one spacious residence or be divided into two separate units—ideal for multigenerational living, a home office, guest suite, or income-producing rental. One side has performed well as a short-term or mid-term rental (Airbnb/Furnished Finder), averaging $99–$111 per night or $2,100/month. Additional improvements include a converted carport to garage with a custom door, a climate-controlled art studio (converted from a wooden shed with power and wall-unit AC), and a kitchenette addition. The owner also added new electrical outlets for convenience throughout. Outdoors, enjoy your private urban oasis with lush landscaping featuring native plants and mature trees, new privacy fencing along the sides and back with multiple gates, a decorative front fence and gate, and a wooden pergola perfect for relaxing or entertaining. A new front wooden deck welcomes you home and enhances curb appeal. Located just minutes from Mueller, Downtown Austin, and East Austin’s vibrant art, restaurant, and café scene, this property offers turnkey living, smart investment potential, and a peaceful retreat—all in one.
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.
