228 Citation Dr, Jarrell, TX 76537
4 beds · 2 baths · 1,820 sqft
This property boasts an open floor plan with a modern kitchen that flows seamlessly into the living and dining areas, creating a warm and inviting space for entertaining or relaxing. The five generously sized bedrooms provide flexibility for use as guest rooms, a home office, or even a fitness area. The primary suite features ample natural light, 2 walk-in closets, and an ensuite bathroom for added privacy and comfort. Situated in a neighborhood with low taxes, this home provides significant savings - making it a smart financial choice. Located in Jarrell, a city experiencing rapid growth and development, you'll enjoy the convenience of nearby amenities, new businesses, parks, and excellent schools, all while benefiting from a friendly, small-town atmosphere. YOU CAN BUY THIS $340,250 home for the same payment as a $295K home. UPGRADE into this Home. SELLER FINANCING AVAILABLE with MUCH lower than market rates. Buyer can get a rate in the mid 5’s to mid 6’s depending on down payment, and SAVE $14,000 in closing costs. MINIMUM of 10% down and Buyer must get pre-approved with the Preferred Lender for seller financing consideration. NO formal underwriting, MUCH lower closing costs, NO discount points, close as fast as 10 days – Experience how lending should be done.
Source: ACTRIS #4910296
Financials
Source: Public records
Source: ACTRIS #4910296
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.