MOTIVATED SELLER! Rare opportunity to assume a 2.75% loan. The loan may be assumed by non-veterans with lender approval and sufficient funds to cover the seller's equity position (Second Mortgage is a possibility to pay for equity position). Both Brand New central Air and Furnaces installed June 2026. Enjoy the perfect blend of luxury, space, and country living in this beautifully updated 4-bedroom, 2.5-bath home situated on 2.6 acres in highly desirable Woodway and zoned to Midway ISD. Conveniently located just off Highway 6, you'll enjoy the peace and privacy of rural living while remaining just minutes from shopping, dining, schools, and all that Waco has to offer. Inside, the home features fresh paint, updated lighting, luxury vinyl plank flooring, crown molding, and spacious living areas filled with natural light. The inviting family room showcases a gas log fireplace, custom finishes, and a wall of windows with French doors leading to the large covered patio. The well-appointed kitchen offers custom cabinetry, granite countertops, a gas range, pantry, and breakfast area, while the formal dining room provides the perfect setting for holiday gatherings and entertaining. The isolated primary suite serves as a private retreat with dual vanities, a soaking tub, separate shower, and generous closet space. Three additional bedrooms and a versatile bonus room off the utility area provide flexibility for a home office, hobby room, workout space, or additional storage. Equestrian enthusiasts and hobby farmers will appreciate the property's horse fencing and impressive 36' x 120' barn featuring 20 stalls and arena space. Whether you're looking for room for horses, livestock, equipment, or recreational use, this property offers endless possibilities. This unique property delivers the best of both worlds—country charm, modern updates, exceptional acreage, and an unbeatable Woodway location.
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.
