131 Mokulua Ln, Bastrop, TX 78602
3 beds · 2 baths · 1,571 sqft
On the serene outskirts of Bastrop, 131 Mokulua Ln is your chance to do some work and build in some equity. Just a short drive from anywhere in town, this property offers the best of both worlds. With 1,571 sq ft of living space on a spacious .46-acre double lot, this home features 3 bedrooms and 2 bathrooms. The open-concept living area boasts 10-foot ceilings, stained concrete floors, and a flowing kitchen with granite countertops and stainless-steel appliances, including a washer, dryer, dishwasher, microwave, and fridge. Foundation issues have been discovered, report is available for review. Seller prefers to sell as is. The primary suite is a retreat with a luxurious walk-in tile shower, separate soaking tub, and a spacious walk-in closet. The additional bedrooms offer versatility for family, guests, or a home office, offering a spacious option either way. Step outside to a large, covered patio, perfect for entertaining or relaxing in your private, oversized, tree-shaded backyard. The property also includes a two-car garage. Schedule your tour today and start living the dream at 131 Mokulua Ln.
Source: ACTRIS #6729759
Financials
Source: ACTRIS #6729759
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.