3106 S Lipsey St Decatur, TX 76234
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About this home
Charming brick home in an established neighborhood! This well-maintained, total-electric home offers a comfortable layout with three bedrooms and two bathrooms. The spacious living room features laminate plank flooring that continues down the hallway and into the master bedroom, along with ceiling fans throughout for year-round comfort. The kitchen includes a smooth cooktop range, built-in microwave with vent hood, dishwasher, pantry, large stainless steel sink, and Formica countertops. The refrigerator will stay! The adjoining breakfast area and utility room feature easy-care linoleum flooring. The master suite offers laminate flooring and a private ensuite bath with tile floors, a walk-in shower, and single vanity. The hall bath includes a fiberglass tub-shower combo, pedestal sink, linen storage, and tile flooring. Two additional bedrooms feature cozy carpet and 2-inch blinds. Enjoy the outdoors with a private, fenced backyard shaded by mature trees, plus a storage building and covered patio—perfect for relaxing or entertaining. The attached garage includes extra storage space, a partially floored attic, and a garage door opener. This inviting home blends comfort and practicality in a peaceful, established neighborhood—move-in ready and waiting for you!
Source: NTREIS #21109881
Loan details
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.