3427 Lakewood Ln, Flower Mound, TX 75022
5 beds · 5 baths · sqft
Unique, fully renovated country home minutes from Grapevine Lake! Ideal for a weekend lake getaway or country living close to the conveniences and top rated schools of Flower Mound! NO HOA! This split-level home offers 5 bedrooms, 4 full bathrooms, 2 living spaces, a 2 car garage, massive gourmet kitchen, RV or boat parking, and a large yard. The kitchen is a chef's dream! Large island with induction heat, pot filler, vent hood, wine fridge, and built-in microwave. Samsung French door refrigerator with smart features stays! Double ovens, built-in desk and wine storage, undermount sink, and thoughtful additions like soft-close drawers and custom storage features. Off of the kitchen is a bedroom that would also serve as a perfect formal dining room or study. The kitchen overlooks the main living room a few steps below with a high vaulted ceiling and a fireplace. A 2nd living space to the side has a wall of doors that open to the backyard! A bedroom with an ensuite bathroom is on the lower level, plus the laundry and several built-in storage cabinets. Upstairs are 2 more bedrooms, 1 with an ensuite bathroom, and the owner's suite with a balcony! The luxury ensuite bathroom features a deep soaking tub, shower, and water closet with toilet and urinal. 2 sinks with touch-light mirrors, and an expansive closet with custom built-ins. The yard includes an above-ground pool, chicken coop, and spacious storage shed. The large driveway leads to an oversized gate, plenty of space to park an RV or boat. Mature trees provide shade and privacy! Minutes from Tour 18 golf course, Parker Square, and DFW airport.
Source: NTREIS #20778394
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20778394
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: #20778394
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