Discover serene, park-like living in this beautifully maintained 3-bedroom 2-bath home featuring a 2-car garage and sweeping views framed by mature post oaks, cedar elm, and hickory trees scattered throughout the grounds. The gated entrance, equipped with solar and electric power, leads to a spacious circular drive offering convenience and curb appeal. New fencing encloses the entire perimeter. Inside, the thoughtfully designed kitchen showcases granite countertops, pull-out drawers, under-cabinet lighting, and abundant storage- perfect for everyday use and entertaining. The split floor plan provides privacy with a generous primary suite featuring a large master bath and his and hers closets. The attic includes a fully insulated, electrically equipped bonus room, providing the perfect climate-controlled storage space. Additional highlights inside include a formal dining room, breakfast nook, large utility room, tray ceilings, and a striking brick fireplace with a propane starter for wood-burning ease. The backyard features a wooden deck and back porch TV access, ideal for entertaining. A substantial 20x30 workshop, equipped with electric and water, ceiling-mounted air hose reel, and an attached awning, offers an exceptional workspace. Adjacent to the workshop is a freestanding carport to provide additional parking. Toward the rear of the property, you'll find several scenic nature trails, a small gully, and thoughtfully cleared, picnic-style areas that enhance this property's natural charm. Ideally situated just minutes from Lake Whitney, the property offers convenient access to both Waco (approx. 40 min drive) and the Dallas-Fort Worth metroplex (approx. 1 hr drive), placing it in a highly desirable, strategically located area. This property blends comfort, functionality, and natural beauty, ideal for anyone seeking peaceful surroundings without sacrificing modern amenities.
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.
