507 Ali Drive Killeen, TX 76542 4BR split floor plan, 2 full baths, 1886SF home on a large 0.2513 acre corner lot that is located in what the Sellers describe as: “Nice, quiet, clean, friendly and safe neighborhood - where kids play & neighbors are out walking throughout the day.” There is no carpet in the house. This beautiful home has an updated Kitchen with Granite Counters/Island(2025), subway tile backsplash, SS appliances, built-in microwave above range, center Island with electrical outlet, deep dual SS sink and matching farmhouse style light fixtures in Kitchen & attached Breakfast area. Coffered ceilings in Living room and Master Bedroom enhance the appeal in these very large rooms. The Living room is in the center of the floorplan; has a wall of windows overlooking the backyard and has a gorgeous corner wood burning fireplace with stone accents & wood mantle. This split floor plan has 3BR + Bath on west end and two of the secondary bedrooms have French doors to closets. Master ensuite on the east side of the house has THREE walk-in closets, coffered ceiling, accent wall, a really cool pocket door entry to bathroom, Jacuzzi tub with tiled walls and frosted window for natural lighting, an upgraded walk-in shower (2025) with elegant glass door that was expanded and very roomy. Let’s talk a little about the outside: Solar screens, carriage lights, gutters and the new wood privacy fence - that was moved towards sidewalk for a very large back & side yards,…perfect for entertaining, kiddos or pets playing safely. There is a spacious covered patio with new ceiling fan and light that opens to a large concrete patio. Roof and new privacy wood fence were replaced in 2025. Storage building can stay.
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.
