339 N 1st St, Point, TX 75472
3 beds · 3 baths · 2,465 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to this timeless, well built, Craftsman style 2-story historic home on 1st Street in Point, Texas. Restored in 2021, character & charm remain while sustaining all the latest updates one could desire. The layout is amazingly spacious, yet cozy with neutral colors. There are high ceilings, original refinished wooden floors throughout, and lots of transom windows to bring the outside light in. The living area is enormous & welcoming with a layout that is ideal for family living & entertaining. The kitchen has abundant cabinetry, stainless steel appliances, granite counter tops & a filtration system that serves the refrigerator & sink. The primary suite has been updated with an ensuite bathroom showcasing a large walk-in shower, slipper tub, double sink vanity & three closets! Discover two dormer bedrooms and a shared updated bathroom at the top of the beautiful staircase. There is a full-size laundry room, abundant storage & MANY updates—pex plumbing throughout, electrical, new windows upstairs, HVAC inside & out, ceiling fans, lighting, tubs, showers, vanities & more! In this home, the vast living space moves out onto a screened in porch for comfort & relaxation on beautiful East Texas evenings. Situated on ONE ACRE, bring your grill & fire pit for gatherings in the huge back yard. Store your lawn mower & yard equipment in the small building in the back. Commute to Greenville or the metroplex & still see the stars at night! Lake Fork & Lake Tawakoni are both about a 15 minute drive! Pride of ownership shows in the preservation of this home’s classic style and design mixed with modern updates, creating convenience & a delightful aesthetic.
Source: NTREIS #20771627
All values shown are estimated costs / mo.
Source: Public records
Source: NTREIS #20771627
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.
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.
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.
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.
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 “Save search” 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.
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 620, 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.