1203 N 13th St, Temple, TX 76501
4 beds · 4 baths · 3,499 sqft
Income-Producing Guest Suite & Historic Charm! Step into timeless elegance with modern luxury in the heart of Temple's North Side Historic District! This home isn’t just a residence—it’s an opportunity. Featuring a remodeled garage apartment with a kitchenette and full bathroom, this space is perfect for a mother-in-law suite, rental income, or private guest quarters. Originally built in 1956 by a founding doctor of Scott & White, this home has only had three owners, each adding to its rich character. With 4 spacious bedrooms, 3.5 bathrooms, and a dedicated office that easily converts to a 5th bedroom, the layout is as versatile as it is beautiful. Inside, exposed beams, two cozy fireplaces, and a loft retreat/media room create a warm, inviting ambiance. At the heart of the home is a gourmet kitchen designed for both chefs and entertainers—featuring original hardwood floors, a custom butcher block island, double ovens, two sinks (including an apron sink), a hot water drink dispenser, and two beverage fridges. Major recent upgrades offer peace of mind, including a brand-new 2024 roof with Class 4 shingles, fresh exterior paint, new gutters, and a commercial-grade Lennox AC unit. Outside, lush landscaping, a full-size flagpole, and a Rainbird irrigation system complete the picturesque setting. Located just minutes from Scott & White, I-35, shopping, and dining, this home offers historic charm, modern comfort, and endless potential. Don’t miss out—schedule your private tour today!
Source: CENTRALTEXAS #572419
Financials
Source: CENTRALTEXAS #572419
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.