Welcome home to 5406 English Oak Drive! Perfectly positioned in the desirable Spanish Oaks community, this impressive 2-story residence offers the ideal blend of big Texas style and everyday comfort. Boasting 2,395 square feet of thoughtfully designed living space, this 4-bedroom, 2.5-bath home is ready to impress from the moment you step through the door into the vast atrium style foyer. As you enter, you are greeted by a bright and airy atmosphere, highlighted by durable and stylish laminate flooring that flows seamlessly through the main living areas-no carpet in the high-traffic zones means easy maintenance and a modern aesthetic! The heart of the home is undoubtedly the gourmet kitchen, designed for the culinary enthusiast. Featuring gleaming granite countertops, a sprawling breakfast nook and bar perfect for slow mornings, and matching appliances including a built-in dual ovens and modern cooktop, this kitchen is as functional as it is beautiful. A generous pantry ensures you have plenty of storage, while recessed lighting illuminates your workspace. Entertaining is a breeze with a layout that connects the kitchen to the spacious living and dining areas, allowing you to stay part of the conversation while cooking. When it's time to unwind, retreat to the luxurious primary suite. This private sanctuary features a spa-inspired ensuite bathroom complete with a deep garden tub for soaking the day's stress away, a separate glass-enclosed shower, enclosed latrine, and a dual vanity that streamlines busy mornings. A massive walk-in closet provides ample room for your wardrobe and storage needs. Upstairs and throughout the home, you will find three additional generously sized bedrooms, offering flexibility for a growing family, guest accommodations, or a dedicated home office. The secondary bathroom is well-appointed with plenty of counter space. Step outside to enjoy your own slice of Texas sky. The backyard is enclosed by a privacy fence, creating a secure environment for pets and play. Whether you're grilling on the patio or enjoying the green space, the outdoor area is a blank canvas ready for your personal touch. Located just minutes from Fort Cavazos (formerly Fort Hood), major medical centers, shopping, and dining, this home offers unparalleled convenience for commuters and families alike. Don't miss the opportunity to own this turn-key gem in one of Killeen's favorite neighborhoods.
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.
