10626 LAKE PARK DR, Dripping Springs, TX 78620
*FOR SALE OR FOR RENT * Welcome to a newer constructed home in Deer Creek with amazing views, 3 bedrooms plus a media/game room. NO HOA, LOW TAXES, STRs, plus Travis County recently approved Lake Park Drive to be repaired! This home offers great curb appeal with a stylish front door, grey exterior, and sweeping hill country views. On the main level you’ll find custom stained concrete floors, tons of natural light pouring in the living room with wood burning fireplace, half bath, laundry room, and an all-white kitchen with Quartz counters, SS appliances, an oversized pantry and breakfast area. The second floor opens to a game room/second living room with long distance views. The large master bedroom encompasses the entire upstairs rear section of the home, overlooking the private upper terrace of the property. The master bath will impress with dual vanities and closets and a black walk-in shower. The two other bedrooms are on the opposite end upstairs and have hard wood flooring throughout. The upstairs full bathroom offers a tub/shower combo with modern black stone tile and finishes. Outside is where the unique charm begins with various entertaining areas to enjoy including a covered porch, a custom concrete patio area and natural rock wall. The property continues up the wood stairs to reveal an upper grassy terrace with spectacular hill country views. Use this space for a fire pit, play area, or your pets! This home is also very energy efficient with spray-in foam insulation and TRANE A/C system, which help to keep your bills low. Deer Creek has a voluntary HOA, making STRs possible, and unique community features such as the Upper and Lower Lakes, perfect for fishing, swimming and a community playground. Zoned to the highly acclaimed LTISD (Bee Cave Elementary & Middle), this home is perfectly situated in the heart of Dripping Springs, yet just 10min to the Galleria shops, 35min to downtown Austin, and 40min to the airport! COME SEE THE VIEWS!
You may be able to put down less than the total down payment amount of $103,053 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: #4232676
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.