2956 Lago Vista Ln, Rockwall, TX 75032
4 beds · 4 baths · 3,900 sqft
LAKE SIDE! Largest lot in subdivision! 2 Separate Fenced Backyards, 2 Separate Staircases, 2 Separate Fireplaces, Back Balcony, 2 NEW HVAC & NEW ROOF! ALL APPLIANCES INCLUDED! Custom Built Brick Home with Concrete Window Arches w.Stone facing. Quick walk to The Harbor at Rockwall! Ride a golfing cart or walk to Lake Ray Hubbard, Restaurants, Hospitals, Stores – convenience & luxury living. Slate-tiled balcony on the 2nd floor, Large 3-car garage with NEW garage door opener backing into long driveway accessible from the back alley, park several vehicles with ease. Multiple flexible areas to cater to various needs. Downstairs features: Primary room-Office-2 Dining-1 Living- Long Laundry room. Upstairs features: 1 living with Balcony, 3 Bedrooms away from each other-lots of storage. Downstairs Primary room offers 1 of the fireplaces with access to one of the backyards, a large room sized roundabout closet, a cedar closet for storing fine items. WOW your guests walking into the grand formal entry with rounding stairs-columns-high ceilings and decorative accent lighting. Home offers granite countertops, plantation shutters, custom doors, crown molding, decorative niches, floor plan offers flexibility- exit the home in every direction as plan makes roundabout connecting access from back staircase to the front staircase, sizable for 2 families-growing household. Kitchen offers high-quality wood cabinets, kitchen island, Pantry size of a room. PRIME LOCATION IN ROCKWALL TEXAS!
Source: NTREIS #20871574
Financials
Source: Public records
Source: NTREIS #20871574
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.