1123 Bales St, Cleburne, TX 76033
2 beds · 1 baths · 1,561 sqft
Welcome home to 1123 Bales St! This inviting 2-bedroom, 1-bathroom home offers 923 sq. ft. of comfortable living space, featuring refinished original hardwood floors and plenty of windows that flood the home with natural light. The eat-in kitchen and large living room create a cozy, open atmosphere perfect for family meals and casual gatherings. In addition to the main house, the property includes a 1,600 sq. ft. metal building with a 593 sq. ft. efficiency apartment, ideal for guests, a private office, or as a flexible living space. The shop area, complete with bay doors and air conditioning, includes a dedicated room for sandblasting, which could also be used for powder coating—perfect for car enthusiasts or anyone with a passion for mechanical projects. Step outside and enjoy a spacious backyard with a large covered patio, ideal for entertaining, BBQs, or simply relaxing. The yard is shaded by mature pecan trees, and a swing offers the perfect spot to unwind while the kids play in the yard. It’s a peaceful, family-friendly space for making memories. With a combined total of 1,516 sq. ft. of living space (home and apartment), this property offers plenty of room for both work and leisure. Whether you're looking for a home office, a hobby space, or extra storage, this property has you covered.Plus, this home qualifies for a zero down payment program, making it an excellent opportunity for first-time homebuyers or those looking to take advantage of affordable homeownership options.
Source: NTREIS #20762680
Financials
Source: NTREIS #20762680
Source: Public records
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%. 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.
Other resourcesWhat is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.