2858 Piping Rock Dr, Abilene, TX 79606
4 beds · 3 baths · sqft
This sprawling, beautiful home is a must see in south Abilene. The home showcases incredible attention to detail along with a host of luxurious upgrades. This four bedroom, 3 bath house encompases 2,757 square feet with multiple living spaces, including a beautiful outdoor living area in the backyard. There are two living rooms, an elegant formal dining area with wainscoting and a vaulted ceiling. The kitchen boasts with stone countertops, highend appliances including a new gas range and new dishwasher. Updates include, new water heater, new gas line to the kitchen range, new backyard deck, new roof in 2020, new flooring. Come see this one for yourself and fall in love! *There are solar panels on the house, these are not a loan, but a power purchase agreement. The buyer will be responsible for assuming the contract with the solar company and buying the power from what the panels produce at a cheaper rate than regular power companies. More information can be given with serious inquiries.
Source: NTREIS #20789047
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20789047
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: #20789047
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.