283 N 2ND ST, Harper, TX 78631
Beautifully remodeled 1938 Farm Haus on 3.795 +/- acres in the cozy little town of Harper. Since 2021 new metal roof all buildings, windows, paint, re plumb entire house, primary bath, swim spa and more. Fenced for livestock workshops and more. This precious 3 bedroom 2 bath home with original refurbished brick fireplace open living area. Farmhouse style kitchen has open shelving, granite countertops, recently updated cabinets and appliances. The laundry house provides storage and additional space while the 1930's rock garage transformed into the perfect hangout! If you are thinking about a place for extra living quarters this one is a great choice. Electricity, a/c installed and plumbing readily available. Could be converted back to a garage. Calling Harper your home, investment, vacation rental option or development this property is it. Assumable 2.6 rate available Perfect set up and location for air BNB. Easy access to HWY 290 and just a short drive to Fredericksburg.
You may be able to put down less than the total down payment amount of $255,573 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: #96690257
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.