29570 RED BUD HL, Boerne, TX 78015
Experience the epitome of luxury living in the exclusive Raintree Woods community of Fair Oaks Ranch. This magnificent estate, set on a double lot spanning 2 acres, is a perfect blend of elegance, comfort, and functionality. Featuring both a main house and a guest house, this property is designed to meet all your needs. Thats right, you get two houses for the price of one!!! Each home has its own designated driveway and garages. They also are metered separately for utilities. The main house offers 4,539 sq ft of stunning living space, including four bedrooms and three and a half bathrooms. The master suite is a private sanctuary with a deck and built-in hot tub, offering spectacular views. The additional bedrooms are versatile, with one serving perfectly as a home office. The home features an open floor plan with wood-like tile flooring, a sunroom, and an upstairs loft/game room complete with Murphy beds. The spacious kitchen and dining areas are ideal for entertaining, and the three-car garage provides ample storage space. This home is equipped with solar panels, ensuring energy efficiency and cost savings. The outdoor area includes a large pool, perfect for enjoying sunny days in a serene setting. The guest house or mother in law suite, with 1,540 sq ft, includes two bedrooms and three full bathrooms, offering comfort and privacy for guests or extended family. It has its own separate driveway and a four-car garage, ensuring independence and convenience. Situated in a gated community with 24/7 guard services, this estate offers security and a prestigious address. The expansive grounds provide ample space for outdoor activities and recreation. Make this luxurious Fair Oaks Ranch estate your new home. Embrace a lifestyle of elegance, convenience, and unparalleled comfort in this stunning residence.
You may be able to put down less than the total down payment amount of $560,320 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #1784077