180 Powell Rd, Smithville, TX 78957
3 beds · 2 baths · 1,568 sqft
This delightful 3-bedroom, 2-bath manufactured home is situated on a picturesque 5-acre property that offers the ideal retreat from the hustle and bustle of city life. Nestled atop a gentle slope, you'll enjoy unparalleled tranquility and stunning views. Step inside and be greeted by an open floor plan that offers a spacious living area. The kitchen is a true highlight with its breakfast bar, perfect for casual meals and entertaining. The large primary bedroom includes a full bath featuring a soaking tub, separate shower, and plenty of storage space for all your needs. Experience the best of outdoor living with a 900 SF front deck. The 8x12 back porch is fully covered and wraps around an oak tree. Whether you're sipping your morning coffee or hosting a summer barbecue, this space is perfect for any occasion. The property is adorned with mature trees, providing both shade and scenic beauty. For those with hobbies, this property has it all. There's a motorcycle shed in the front and a 20 x 20 shed in the back, providing ample storage for vehicles and equipment. Two acres of the property are fenced and outlined for two pastures and a paddock, making it an ideal setup for animal lovers. There is a water supply line from the house running out to the horse pasture for animal water tanks.This home offers plenty of room to enjoy the great outdoors, whether you're into gardening, horseback riding, or simply relaxing in nature. Despite its serene setting, this home is conveniently located just 7 minutes from Bastrop and 35 minutes from the Austin airport. You can enjoy the tranquility of rural living without sacrificing easy access to city amenities.
Source: ACTRIS #2423463
Interest rate and monthly payment estimated based on public records.
Source: ACTRIS #2423463
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.
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.
MLS ID: #2423463
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.