Welcome to countryside living just minutes from town on over an acre - this 4-bed, 2-bath home boasts a large shop with double roll-up doors in the front and even a third in the rear for pull-through access to the backyard. In the main house, the warmth of a cozy entry way greets you, filled with natural light from the generous picture window centered in the dining room. Countertops run the length of the expansive kitchen in addition to an L-shaped island complete with a breakfast bar. Updated with custom granite countertops, the beautiful wood cabinets provide ample storage and make entertaining a breeze. The open living room and kitchen create a grand space for gathering with friends and family. The spacious master suite incorporates the full home security system, including cameras and a central command center with monitoring screen. Large safe in the master suite to convey with the home! An additional side-entry door flows to ample parking on the side of the home and brings you to the spacious shop. Inside the shop, you'll find a bar area with a refrigerator that comes with the home. Great built-in storage shelves make this space perfect for organizing all your hobbies, tools, or even at-home business needs. Pull-through access makes storing boat, trailer or RV a breeze. This generous backyard is cross-fenced, so you can maintain the backyard or contain pets while keeping the rear portion of the lot, which is fenced separately, for your garden, chickens, or even 4H project animals. This north-facing home enjoys backyard shade in the evenings by the strategically placed shop on the west side of the property. Located in Troy ISD with easy access to I-35 and the convenience of town just 10 minutes south in Temple - access shopping, dining, and industry while paying NO city taxes! Motivated sellers just had this home refreshed with paint touch-ups, deep clean, landscaping refresh, and presented to sell FAST! Bring all offers!
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.
