2053 Barx Dr, Little Elm, TX 75068
4 beds · 4 baths · 2,846 sqft
Minutes away from the PGA Frisco! This home offers 5 bedrooms, 3.5 bathrooms, an oversized office, 2 dining spaces, a spacious living area, a private courtyard, a low-maintenance backyard, and so much more! The upgrades really set this home apart from the others. A few to mention; the front elevation accented with stone, the rare covered front porch, the brand new luxury vinyl floors sprawling throughout the downstairs, the stone accented fireplace, and the energy efficient gas appliances. The kitchen boasts matching stainless appliances, gas oven and cooktop, beautiful granite countertops, cabinets galore, an island overlooking the living room, direct access to the formal dining room, and an eat-in area that overlooks the private courtyard. The primary bedroom is spacious with an en-suite bathroom that accommodates the shower takers AND the bath soakers. The upstairs gracefully accommodates multi-generational needs with a spacious second master en-suite bedroom and walk-in closet, a 17x17 bedroom or bonus room with a walk-in closet, 2 MORE bedrooms, and a second bathroom with dual sinks. Enjoy the private courtyard or easily maintained backyard, but don't forget to take a stroll down to Lake Lewisville for a memorable outing. Valencia On The Lake residents have access to the lakeside community center, swimming complex, ballroom, and both sand volleyball and tennis courts. Did you know that Little Elm Park is only 9 miles away and is located on Lake Lewisville? This park's amenities include a boat ramp, playground, amphitheater, picnic areas, swim beach, softball fields, sand volleyball, hiking and biking trails, and a nearby restaurant snack bar, the Lighthouse Grill. What a home!
Source: NTREIS #20796966
Financials
Source: Public records
Source: NTREIS #20796966
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.