116 Cotton Cir, Josephine, TX 75173
3 beds · 2 baths · 1,178 sqft sqft
MOVE-IN READY! Enjoy quiet, country living in this charming 3-bed, 2-bath home nestled on a quiet, cul-de-sac lot in the heart of Josephine. This one-story gem offers the perfect blend of comfort and style featuring a spacious living room that opens to an adjacent dining space and a well-appointed kitchen. Retreat to the primary bedroom with en-suite bath and walk-in closet. Two additional split bedrooms provide ample space for family & guests. Step out onto an open patio with fully-fenced, large backyard, perfect for pets and play. Storage Shed. NO HOA! Established neighborhood & outstanding location - minutes to the community park & schools, with easy access to I-30, HWY 380, local shops & dining. Plus, this is an approved USDA area! Schedule your private showing today!
Source: NTREIS #20733599
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20733599
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.
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: #20733599
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.