6554 State Highway 198 Mabank, TX 75156
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About this home
Situated on over six acres on the outskirts of Mabank, Texas, this stunning brick home offers over 2,700 square feet of living space with 3 bedrooms and 2 bathrooms. Designed for both comfort and functionality, the open floor plan creates a spacious and inviting atmosphere, perfect for entertaining and everyday living. The large living area flows seamlessly into the kitchen, where you'll find an island, abundant counter space, and a double oven, making meal preparation a breeze. Whether you're hosting gatherings or enjoying a quiet night in, this well-appointed kitchen is sure to be the heart of the home. The Master Bedroom provides plenty of space to relax, while the additional bedrooms are generously sized, offering comfort for family and guests. Outside, the possibilities are endless with over six acres of land! The expansive property provides privacy and tranquility, while still offering the convenience of easy access to local amenities. Whether you’re looking for space to grow, raise a family, or simply enjoy the beauty of the countryside, this property delivers. Located on State Highway 198, this home is just minutes from the heart of Mabank, where you’ll find shopping, dining, and schools. Enjoy the perfect balance of rural charm and modern convenience in this one-of-a-kind property. **Roof and HVAC was replaced a year ago.** The acreage offers plenty of room to enjoy the outdoors, with space for recreation, animals, or future projects. A neighboring metal building, recently purchased by a local glass company, is used for storage—bringing minimal activity compared to a typical business. An easement along the front provides access to that building while keeping the home itself set apart. Just minutes from shopping, dining, and schools, this property offers a unique blend of country living and everyday convenience.
Source: NTREIS #20866939
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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.
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