Motivated seller! This 3-acre property already has the fruit trees, blackberry bushes, grapevines, livestock shelter, workshop, and fenced acreage you've been looking for. Welcome to your own slice of Texas country living in highly sought-after Caddo Mills ISD! Tucked outside city limits with no HOA, this fully fenced property offers the perfect blend of privacy, functionality, and homestead charm. The land is a true highlight, featuring mature peach, plum, and apple trees, thriving blackberry bushes, and established grapevines that create a picturesque canopy around the outdoor pergola—an ideal spot to relax and enjoy peaceful country sunsets. Animal lovers will appreciate the livestock shelter and ample space for horses, goats, chickens, or other livestock. Additional outdoor amenities include a workshop with electricity, storage shed, and plenty of room for gardening, recreation, or future expansion. Backing to open land, the property provides wide-open views and the tranquility of rural living while remaining convenient to schools, shopping, and major highways. Inside, the home offers 3 bedrooms, 2.5 baths, a flex room, and a spacious living area with built-in bookshelves. The spacious primary suite offers a large walk-in closet and a private ensuite bath featuring dual vanities. The converted garage adds valuable flexible living space and includes a generous pantry that could also serve as a small home office, along with a convenient half bath. Whether you need a workspace, guest area, playroom, or second living area, this versatile space can adapt to your needs. Recent improvements include a newer microwave and dishwasher, while the water heater was replaced just a few years ago, providing added peace of mind for the next owner! Whether you're looking to establish a hobby farm, create a self-sustaining homestead, or simply enjoy the freedom of country living, this property offers endless possibilities. Bring your offer!
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.
