1689 W Fm 898, Bonham, TX 75418
3 beds · 1 baths · 989 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This 1.5-acre property offers the perfect combination of peaceful country living and convenient access to town. Located in a quiet neighborhood, it’s just a short drive to grocery stores, restaurants, and shopping. With easy access to US 82 and State Hwy 121, and sitting on a blacktop road, you’re close to everything you need while still enjoying the tranquility of the countryside. The dark nights are ideal for stargazing, and you’ll love the stunning sunrise and sunset views. The large fenced backyard includes a storm shelter, a barn with a gravel floor, and a chicken coop with an attached shed for extra storage. A large, producing pecan tree provides both beauty and shade. Ample parking is available, plus a 19'x20' attached carport. Relax on the covered back patio, enjoying the cool breeze, and take advantage of the RV parking with hookups offering 50-amp service and a septic connection. Inside, the home features an open layout with plenty of natural light and a moveable kitchen island for added convenience. Full-size washer and dryer connections are located in the carport for easy access. With 3 comfortable bedrooms, the home offers a cozy and inviting atmosphere. The bathroom includes a linen closet and ample storage space. This move-in-ready home provides everything you need for comfortable living in a peaceful, country setting.
Source: NTREIS #20884970
Source: NTREIS #20884970
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.
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.
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 620, 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 and Equal Opportunity Act.