504 Taylor Dr, Rockwall, TX 75087
4 beds · 3 baths · 2,360 sqft
This open-concept home is the perfect combination of beauty, brains and function. It sits on a premium lot with unobstructed views of a tranquil pond with fountain, amenity center and Vernon elementary school. It's oh-so-pretty with neutral paint, luxury vinyl plank flooring and quartz counter tops. Built in 2020, this energy efficient SMART home includes a WIFI-enabled doorbell, thermostat, garage door opener and deadbolt. Easy-care wood-look plank flooring extends from the welcoming foyer into the common areas. The formal dining room makes a perfect home office or playroom. The family room is the heart of the home and open to both the kitchen and breakfast nook. The kitchen's modern color palette showcases white cabinets, gray quartz counters and glass subway tile backsplash. There's a large island with breakfast bar seating, stainless appliances including a 5-burner gas range, walk-in corner pantry and sunny breakfast nook. The fridge can stay with an acceptable offer! The secluded primary retreat is located at the back of the home, its bath offers dual sinks, deep linen closet, oversized shower and huge walk-in closet. Bedroom 2, with its own en-suite bath, is split for privacy making it ideal for in-laws, guests or a teen. Bedrooms 3 and 4 are generously sized and share a nicely appointed bath. Relax with your favorite beverage under the covered patio, the backyard has plenty of space for outdoor entertaining and family fun. Other amenities include a large laundry room, tankless water heater, gutters, sprinkler system and so much more. Woodcreek is a master-planned community offering a clubhouse with fitness center, pools, splash pads, playgrounds, catch & release fishing, trails, greenbelts and dog park. The elementary school is a short walk away and can be seen from the front porch. Conveniently located near historic downtown Fate, shopping, restaurants, major highways and schools.
Source: NTREIS #20849043
Send questions to support@withroam.com
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: NTREIS #20849043
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 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.