300 Magnolia St, Little Elm, TX 75068
4 beds · 4 baths · 2,854 sqft sqft
This beautiful 1.5 story home, set on an expansive corner lot, greets you with a welcoming front porch and charming brick & stone elevation. Inside, find an incredibly flexible floor plan designed for modern living, adaptable to suit your family’s needs. A versatile space off the entry offers the perfect setting for a playroom, home office, or additional living area. The formal dining room easily accommodates large gathering. Three guest bedrooms all on the first floor along with two full bathrooms. The heart of the home showcases a luxurious open-concept living and kitchen area. The living room is wired for 5.1 surround sound with four in-ceiling speakers for an immersive experience, while a pre-wired surround sound system in the upstairs game room makes it ideal for movie nights or gaming. The gourmet kitchen is a chef’s delight with a custom island featuring knee space storage and a flip-out sponge tray. The kitchen also includes upgraded SS appls, designer backsplash, gas cooktop + pristine white cabs. Expansive primary suite is a private retreat with an en-suite bath that includes dual vanities, a separate shower, garden tub + a spacious WIC. Additional thoughtful upgrades include Ethernet connections in every room & a wireless security system. Outdoors, the extended patio with a deepened beam and header above the windows offers the potential for future French doors, enhancing your outdoor living space. The patio is perfect for entertaining, featuring two included speakers for music or outdoor gatherings. Safety and convenience are paramount, class 4 roof, six hardwired exterior security cameras plus a Ring doorbell providing peace of mind. The large yard, ideal for a future pool, is perfect for outdoor activities. Community amenities include a fully equipped gym, clubhouse, and pool, adding to the vibrant lifestyle offered in this sought-after neighborhood.
Source: NTREIS #20765522
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20765522
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #20765522
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.