Welcome to 950 Farm To Market Road 486, Thorndale, TX. Set on nearly 11 acres of pristine land, this property provides the perfect backdrop for a life lived at a slower, more intentional pace. The heart of the property is a spacious main residence boasting 3,200 square feet of thoughtfully designed living space. With four bedrooms and two bathrooms, each room features a generous footprint, ensuring everyone has room to breathe. Beyond the main home, the property offers incredible versatility with a charming secondary residence. Featuring three bedrooms, two baths, and a large open-concept kitchen, dining, and living area, this mother-in-law floor plan is perfectly suited for multi-generational living, hosting guests, or even a business location. What truly sets this property apart is the owner’s dedicated commitment to the environment. Understanding that synthetic fertilizers & pesticides can severely disrupt the balance of our local ecosystem, the owner has consciously chosen to forego these treatments entirely. The land is managed to encourage native plants, wild grasses, and natural water sources to thrive. The result is a vibrant, organic sanctuary that welcomes and supports vital pollinators like butterflies and bees. For those dreaming of a self-sufficient lifestyle, this property is ready for your vision. Outdoor facilities include a sturdy horse barn, a goat pen, and a chicken coop. With secondary storage, a functional well house, and a convenient shop attached to the horse shed, you have everything you need to start your homesteading journey on day one. Nestled in the quiet, rolling landscape of Thorndale, you gain the benefit of absolute privacy and peace, all while remaining just a short drive from the town’s warm community spirit, local shops, and excellent schools. Come see for yourself the harmony of rural peace and modern convenience. Please note that showings require 48 hours' notice.
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.
