215 S Mulberry Ave, Luling, TX 78648
4 beds · 4 baths · 3,016 sqft
You’ll enjoy living outside Austin’s city limits in this spacious home on a large almost half acre lot. So many upgrades have been done: the wiring including electrical panels and all of the plumbing including sewer lines to the street has been replaced, both AC units and the 2 commercial grade water heaters are less than 5 years old, whole house water softener and reverse osmosis water filters, new gutters and more. Walking in the foyer, you will see the oversized family room with beautiful hardwood floors and a fireplace. This room is open to the dining room that overlooks the beautiful backyard. The kitchen has plenty of counter cabinet and pantry space and the 2 bar areas allow friends and family to stay close to the action. There are 4 bedrooms with 3.5 baths total. You’ll love the family/music room in the back of the house which has great light filtering through the windows and an attached coffee or adult beverage bar. A good sized workshop with plenty of room for all of your projects and hobbies connects the large 2 car garage to the house and there is a 2 car covered carport as well. The house is on city water, but also has a well and 2 rain barrels, making watering your garden and yard easy. The sellers have previously had chickens and geese on site, so you can truly have your homestead all in one spot. You’ll love enjoying evenings in the Cowboy pool watching the stars or a movie on the back porch’s retractable projection screen. This home has everything you need to spread out and enjoy life.
Source: CENTRALTEXAS #571975
Financials
Source: CENTRALTEXAS #571975
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.