242 Club Park Ct, Point, TX 75472
3 beds · 2 baths · 1,811 sqft
If you are looking for a lake home with character you won't want to miss this one! This Charming home is nestled back from the street on a double lot with lake views. Very little traffic on this street because it is on a cul-de-sac. Super cozy floor plan with the living room opening to the nice sized dining area. The kitchen has a super cute nostalgic look, so fun to entertain you friends and family in! Large bedrooms, with the primary offering a sitting area and a jetted tub in the primary bathroom. A wrap around balcony upstairs to sit and enjoy the outdoors. Very large fenced lot with nice shade trees for your family get togethers. This is a in a community that has parks, boat ramps and a fishing pier. Come home in the evenings, hop on the golf cart and go drop a line. You can also drop your boat in the water right in your own neighborhood! Lake Tawakoni is highly known for great fishing and is also a recreational lake for family fun.
Source: NTREIS #20818261
Financials
Source: NTREIS #20818261
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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