3637 PENELOPE WAY, Round Rock, TX 78665
*BONUS* SELLER WILL PAY 1% OF PURCHASE PRICE FOR INTEREST RATE BUYDOWN! Meticulously maintained, this beautiful home with $60k+ in upgrades has it all! With 4 bedrooms, 3 full baths, 2 living areas, a central planning nook with a desk and storage, there's room for everyone! The 2nd floor is perfect for multigenerational living as it features 1 bedroom, a spacious living room, and an office with a built-in kitchenette. Some of the upgraded features include beautiful commercial-grade wood tile floors throughout the main level, hardwood floors in upstairs living room, 2-inch cordless blinds throughout, ceiling fans in all living and bedrooms, smart thermostats, smart smoke/carbon monoxide detectors, The spacious kitchen with an oversized island features custom-made pendant lights, stainless appliances, a smart refrigerator, and a silent smart dishwasher. The living room features an abundance of natural light and plenty of space perfect for entertaining. The primary bedroom has a sitting area with bay windows for added natural light and a beautiful backyard view. In the primary bathroom you'll find a large walk-in closet, double vanity, oversized garden tub, and a separate walk-in shower with bench. The garage features additional storage space ideal for hobbies or even a home gym. Outside you’ll find a beautiful back patio and trees for additional privacy, landscaped front and back, decorative Xeriscape side yards, full gutters, and a smart irrigation system! Amenities include 2 pools, splash pad, 2 amenity centers, private lake with a dock for catch and release fishing, 4 playgrounds, walking/jogging trails throughout, and sport courts. Paloma Lake is also home to Herrington Elementary! Just minutes from SH 130, Highway 79, and IH 35 providing easy access to the surrounding area and major employers such as Dell, Oracle, Apple, and Samsung. Top shopping, dining, and entertainment options in the Round Rock area are just minutes away! This home is truly one of a kind!
You may be able to put down less than the total down payment amount of $279,760 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: #6633864