Price Reduced!! Welcome to your next home located in the heart of the desirable Magnolia Creek Subdivision in Leander. You will truly appreciate and love the extra privacy and peace that this home offers by backing up to a green area behind the home, so there are no immediate back door neighbors. So private and peaceful. This home offers a magnificent blend of functionality and style featuring an open-concept floor plan that seamlessly connects the kitchen to the expansive family room. The vaulted ceiling in the family room makes it feel even more spacious. The primary bedroom also has a vaulted ceiling, and a walk-in closet. The primary bath has a separate shower and tub and a double vanity. Make sure to step out on the covered back patio and enjoy the wonderful privacy of not having a neighbor immediately behind you. That extra peace and quiet translates into additional value. In the hall leading into the primary bedroom, be sure to find the oversized utility room and a hidden gem of this home, a fantastic hall closet!! You just cant ever have enough storage space in a home. This closet is a Great Bonus! At the front end of the garage is also a bump out space which provides some extra storage space in the garage. There is a garage door opener, an insulated garage door and a sprinkler system control box in the garage too. Less than one minute away in your vehicle is a neighborhood community pool and splash pad. This park area also has playground equipment too! This home is also just minutes from the local Capital Metro Leander station, the Leander Post Office, an HEB Superstore and numerous restaurants, stores and businesses. All in all, a Fantastic place to live and enjoy life! Come visit this Wonderful Home and make it your own!!
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.
