VA loan
1 of 40
VA loan
$324,000

511 Lakeview Dr, Alvarado, TX 76009

4 beds · 3 baths · 2,460 sqft

Spacious 2017-built home located in the Stonegate Manor subdivision has four bedrooms and three full bathrooms. This home offers an open concept layout with the kitchen, breakfast room, and living room. Living room has lots of natural light. The kitchen features an island with breakfast bar, granite countertops, stainless-steel appliances, and a walk-in pantry. Formal dining room is just off the front entry. Split bedroom arrangement. Spacious primary bedroom and two secondary bedrooms are located on the first floor. Primary bath features a garden tub and separate shower. The fourth bedroom, third bathroom, and game room are located upstairs. Wood fenced backyard and covered patio are great for cookouts, entertaining, or just relaxing. Two car front entry garage. Schedule your showing today.

Estimated
Seller's interest rate
3.94%
7%
Estimated
Principal & interest
$1,216/mo.
$1,606
You may also save up to $106,431 in total interest paid.
Listing price
$324,000

Your cash down payment
$104,892
Seller’s estimated current equity is $104,892
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $1,216 monthly payment

Financed
$219,107
Assumed mortgage 3.94% • Seller's rate
$219,107
2nd mortgage 9% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Location
Details
Home
Size
2,460 sqft
Price per sq ft
$146
Lot size
0.1380 acres
Year built
2017
Type
Single Family Residence
HOA dues
$0.00

Source: NTREIS #20863688

Loan
Remaining term
22 yrs and 9 mos
Rate
3.94%
Monthly P&I
$1,216
Remaining loan balance
$219,107

Source: Public records

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%. 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 resources
Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Last updated: Mar 11, 2025 12:50 am
Listing agent: Robby Setser (972) 743-5667
Listing provided courtesy of: RE/MAX Preferred Associates (972) 293-4550
Details provided by NTREIS and may not match the public record.
MLS ID: #20863688
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the NTREIS Multiple Listing Service. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,216/mo
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