Classic ranch-style gem blends charm with thoughtful updates in a highly desirable Austin location. You will love the home’s inviting curb appeal with welcoming covered front porch and beautiful mature Texas pecan tree. Inside, the functional layout suits modern living with ease. The traditionally formal living room offers modern flexibility: perfect for entertaining guests, a quiet reading retreat, or a home office or music room. The spacious family room has vaulted ceilings with exposed wood beams adding architectural character and an airy feel. The striking red brick fireplace is the focal point making this room perfect for everyday living or relaxed gatherings. The eat-in kitchen offers a great layout, making it easy to move between cooking, dining, and gathering with family or friends. The kitchen’s laundry closet is very convenient. The four well-proportioned bedrooms provide versatility whether you need extra space for guests, a growing household, or dedicated work-from-home rooms. Each room is filled with natural light, continuing the home’s comfortable appeal. Step outside to discover one of the home’s standout features: a screened-in patio that extends your living space outdoors. It is ideal for unwinding at the end of the day, enjoying morning breezes, or entertaining while staying shaded and comfortable. The spacious backyard provides plenty of room for play, gardening, or pets. Completing the property is a two-car garage, offering convenient parking, storage, or workshop space. Throughout the home, updates have been made with care, enhancing comfort and functionality while preserving the character that makes this ranch-style home special. Ideally situated in Austin, this home offers the perfect balance of charm, space, and location. 8 mi to downtown, 8 mi to the Tech Corridor, 14 mi Austin-Bergstrom Int’l Airport.
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.
