1187 INDIAN PASS, Salado, TX 76571
Don’t miss this rare opportunity to make your French Country Estate style dream a luxury reality. Designed by Southern Living, this 5 acre fully fenced in estate has it all with a low tax rate. Sought after craftsman builder Delton Stuckly Homes has done it again with exquisite finishes and attention to detail around every corner. Enter through your own private automatic gate. Front and back yard are both fenced, have automatic sprinkler system, entire lot is graded, cleared and fully usable to make your pool and shop goals come to life. Always wanted a horse property? Well now is your chance. 2 horses allowed for this 5 acre homestead. With over 1K square feet of covered porch space, a front porch fireplace, beautiful architectural detailing truly make this home one-of-a-kind. 3rd car garage bay is air conditioned allowing for an additional flex space. The 8.1 kW solar power system is owned and PAID IN FULL. Inside you’re welcomed with 10-12’ ceilings, Restoration Hardware throughout, fully upgraded quartz countertops, European white oaks floors, abundant storage off foyer and throughout the home, picture frame doorways, mahogany exterior doors and an ample amount of windows to let ton’s of natural light in. The kitchen features a counter to ceiling marble backsplash, 5 burner gas cooktop, double oven, Electrolux counter depth fridge/freezer, under mount cabinet lighting and apron front sink. The primary bath is a retreat all on its own. Here’s you’ll find double quartz vanities, designer lighting, large walk in shower and a primary closet that includes a secret hide-away space. This flex space includes a mirrored front door that with extra shelving behind the door and beyond that is a large flex space. The living area includes cedar beams accenting the soaring ceilings, wood burning fireplace, a butler’s station with wine fridge, oversized pantry and a built-in desk area. This beauty is sure to be your forever home!
You may be able to put down less than the total down payment amount of $74,179 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: #2243533