14911 Retha Pass, Austin, TX 78725
4 beds · 2 baths · 1,698 sqft sqft
Unbeatable opportunity for a ***2.75% ASSUMABLE LOAN*** Freshly painted and awaiting its next fortunate owner, this gem rests in an East Austin location that places you just 5 miles to Tesla and approximately 8 miles to Austin-Bergstrom Airport. The single-story residence draws you in with a charming brick exterior and features 4 bedrooms, 2 full bathrooms, and a spacious open-concept design with the kitchen at its heart. The large island overlooks dining and living areas, perfectly positioned to spend time with loved ones or entertain guests. The kitchen is adorned with rich espresso cabinetry, granite counters, and a beautiful backsplash that complements the design. The owner’s suite offers an ensuite bath with an oversized walk-in shower, built-in shelving, and a sizable walk-in closet. You’ll enjoy ample storage throughout, with multiple walk-in closets, added shelving, and a garage with additional storage space. The sought-after Austin’s Colony community offers residents multiple parks, a swimming pool, basketball court, and dog park. With the incredible loan opportunity, this home will not be on the market long. The extraordinary monthly cost savings could allow you to add your own personal touches and create the home of your dreams!
Source: ACTRIS #8907756
Interest rate and monthly payment estimated based on public records.
Source: ACTRIS #8907756
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What 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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #8907756