376 Papaya Dr, Buda, TX 78610
3 beds · 3 baths · 1,814 sqft
**Assumable loan at 5.125%** This stunning two-story home, built in 2023, offers three spacious bedrooms, providing ample space for family and guests. The primary bedroom is conveniently located on the main floor, featuring large windows that fill the room with natural light. Its en-suite bath includes a luxurious walk-in shower and a dual vanity, combining comfort and style; and a large walk in closet with plenty of space! The open-concept kitchen is a chef's dream, featuring elegant quartz countertops, stainless steel appliances, a gas range, and a pantry, all seamlessly connecting to the dining area and great room. This layout is perfect for gatherings and everyday living. A door off the great room leads to a covered patio, ideal for enjoying the inviting outdoor space. Upstairs, you'll find two additional bedrooms, a full bath, and a versatile flex/playroom, providing plenty of options for relaxation or entertainment. With abundant natural light, excellent storage, and a spacious, fenced backyard, this home caters to modern living. Additionally, it includes several upgrades, such as enhanced lighting fixtures, smart home technology, flooring, custom cabinetry with soft-close features, custom window treatments, and energy-efficient windows. Situated in a vibrant community, this home is just a short drive from Austin, offering easy access to shopping, restaurants, and a variety of activities. The neighborhood is brimming with amenities, including parks, playgrounds, pools, a splash pad, walking/biking trails, and sidewalks, ensuring that there is something for everyone to enjoy. This is truly a perfect place to call home! Assume this home at 5.125% and save thousands annually!
Source: ACTRIS #9985382
Financials
Source: ACTRIS #9985382
Source: Public records
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%. 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.
Other resourcesWhat 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.