1502 OLIVE ST, Georgetown, TX 78626
Welcome to this extraordinary, one-of-a-kind craftsman-style bungalow, a true masterpiece of historical preservation & modern luxury. Nestled within the charming enclave of Old Town, this 1926 gem, originally constructed by the renowned C.S. Belford. Situated gracefully on a corner lot, this home is a testament to the artistry of its era. As you approach, the first thing that will capture your attention is the inviting front porch, while relishing the sight of neighbors leisurely strolling with their dogs under the shade of majestic. Or, perhaps you'll prefer to start your day with a cup of morning coffee in the sunroom, where an abundance of natural light bathes the space in warmth and serenity. Step inside, and you'll be transported back in time by the stunning stained glass windows, original long leaf pine floors, and the meticulously preserved fine woodwork. Every detail, from the period-themed hardware to the designer touches, has been thoughtfully selected to honor and preserve the rich heritage of this home. Prepare culinary delights in the gourmet kitchen. Unleash your inner chef & create delicious meals to be enjoyed in a dining room that exudes timeless grace. Stroll to The Most Beautiful Town Square in Georgetown, a hub of fine dining and upscale shopping. Discover the rich history of Williamson County at the museum or lose yourself in the pages of a book at the national award-winning library. 3 blocks away, Southwestern University offers cultural & intellectual enrichment. Convenience access to I-35 & the 130 toll road, as well as proximity to the Wolf Ranch Shopping Center for all your retail therapy needs. Walking distance to the elementary school & the local park. Austin-Bergstrom International Airport is less than 30 miles away, for seamless travel connections. Own this magnificent piece of history, where the charm of Old Town Georgetown beckons you to create lifetime memories.
You may be able to put down less than the total down payment amount of $22,242 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #3030483
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.