3230 Harbor Dr, May, TX 76857
3 beds · 2 baths · 2,266 sqft
Charming Barndominium-Style Retreat on Six Lots Near Lake Brownwood Welcome to 3230 Harbor Dr, May, TX, a truly unique property nestled on six spacious lots, totaling nearly 0.75 acres, in the serene Harbor Point community near the north shore of Lake Brownwood. This barndominium-style home offers the perfect blend of comfort, versatility, and potential, making it an exceptional choice for a permanent residence, a weekend getaway, or a vacation rental. The main house, built on a durable steel and slab foundation, is thoughtfully designed to accommodate guests or multiple families. The flexible floor plan features a downstairs den or office space, which can easily be converted into an additional bedroom to suit your needs. The open-concept kitchen is a chef’s dream, boasting granite countertops, an oversized stovetop and oven, and a breakfast bar that flows seamlessly into the expansive dining room. Enjoy cozy evenings by the wood-burning fireplace, creating the perfect ambiance for gatherings. Upstairs, a generous open family room connects the bedrooms, offering a versatile living area for relaxation or entertainment. Efficient mini-split units provide heating and cooling, ensuring comfort year-round. Outside, you’ll find a spacious shop, ideal for storage, hobbies, or tinkering on projects. The property’s proximity to Lake Brownwood offers convenient access for boating, fishing, and water activities, making it a paradise for outdoor enthusiasts. This one-of-a-kind property is brimming with potential and is ready for your personal touch. With six lots providing ample space for expansion, landscaping, or additional amenities, the possibilities are endless. Don’t miss out on this rare opportunity to own a distinctive home in a peaceful lake community. Schedule your showing today and make this charming retreat your own!
Source: NTREIS #20826133
Financials
Source: Public records
Source: NTREIS #20826133
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.