1107 Hamilton Dr, Waco, TX 76705
4 beds · 2 baths · 2,057 sqft
Welcome to the most CHARMING STONE COTTAGE at 1107 Hamilton Drive in Waco, TX. This beautifully updated 4-bedroom, 2-bath is nestled on 2 acres of serene Texas landscape. This home offers a perfect blend of classic charm and modern convenience, featuring central heat and air, two spacious living areas, and a cozy wood-burning stove. Recent updates include fresh interior paint, new LVP and tile flooring, and all-new interior lighting, giving the home a bright and inviting feel. A spacious laundry room with a sink, large walk-in pantry and plentiful closet space ensure ample storage throughout. Step outside to enjoy the expansive deck, perfect for entertaining or simply relaxing while looking out over the 20 acre hayfield that sits right next to the property. This home also boasts a 1,200-square-foot shop/storage building that has electricty and an easy option to add plumbing. This shop is such an asset to the property providing endless possibilities for hobbies, a workshop or extra storage. In addition to the shop, there is a spacious pole barn that is currently functioning as a chicken coop. Just a stones throw from Gholson Elementary and plenty of parking and room to roam, this property is ideal for those seeking space and tranquility.
Source: NTREIS #228561
Financials
Source: NTREIS #228561
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.