118 Grace Lilly Dr, Buda, TX 78610
3 beds · 2 baths · 1,689 sqft
Welcome to 118 Grace Lilly! This 3-bedroom, 2-bathroom home is nestled in the heart of the Sunfield neighborhood in Buda, Texas. The home has a prime location only 1/2 mile away from the neighborhood lazy river and 1 mile away from the onsite elementary school not to mention the various walking trails, dog parks, stocked fishing ponds and other neighborhood amenities Sunfield has to offer. Upon entering, you'll be greeted by a spacious, open-concept layout, wood looking laminate floors and first floor office/flex space. The kitchen features upgraded cabinets, built-in home appliances and a large island, perfect for entertaining. The kitchen area flows directly into your dining and living room creating a large open concept. The living room opens up to the back yard featuring extended covered patio with a spacious backyard which includes stained fencing, large stone retaining wall and no back neighbors. The home has a spacious primary bedroom and a thoughtfully designed primary bathroom with a large walk-in closet. Down the hall from the dining room is the two other bedrooms each with their own closets and ceiling fans. This home also includes a sprinkler system, water softener, solar panels, and is wired for vivant security system for added comfort and efficiency. This home has numerous premium upgrades and is move in ready! Come See Today!!
Source: ACTRIS #7124058
Financials
Source: Public records
Source: ACTRIS #7124058
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.