2185 Falconwood Dr, San Marcos, TX 78666
4 beds · 4 baths · 3,032 sqft
Stunning property in San Marcos on 3 acres! Nestled in the gateway to the hill country, this two-story home has 4 bedrooms and 3.5 bathrooms in 3,032 square feet. The home is set back nicely from the street. As you approach down a long driveway, you are greeted by a charming stone home with dormers set among a grove of mature trees. A study is situated in the front of the home boasting glass French doors. Through the arched entry in the foyer, you'll continue to the family room and kitchen. The family room includes a wood-burning fireplace next to a bank of built-in shelving. The large kitchen features cabinets with crown molding, granite countertops and backsplash and stainless-steel appliances. A breakfast nook is located next to the kitchen which leads out to the deck and back yard. Take in the view from the back yard as you enjoy a cup of coffee on the deck or entertain guests. More mature trees abound! The owner's suite is roomy and has a large walk-in closet and en suite bathroom where you'll find a separate shower, soaking tub, and dual vanities. Upstairs you'll find a loft/game room with a full dedicated bathroom. Recently updated with fresh and neutral paint throughout with lovely crown molding. New luxury vinyl plank flooring and new carpeting throughout. Large 3000 sq ft building out back that can be used for running business, workshop, converted to living space etc.
Source: ACTRIS #3307770
Financials
Source: ACTRIS #3307770
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.
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