512 Texas Ave, Burlington, NC 27217
3 beds · 1 baths · 1,577 sqft
You will love this fully renovated modern masterpiece with high-end finishes and a prime location! This breathtaking open-concept gem offers the perfect blend of modern style, comfort, and ample space. At the heart of the home is the brand-new kitchen, featuring a quartz island and countertops that add elegance and sophistication. Paired with new stainless steel appliances and sleek finishes, this kitchen is a chef's dreams ideal for cooking and entertaining. The open living and dining areas are illuminated by recessed lighting, creating a warm ambiance. The main floor includes the first two bedrooms and a fully updated bathroom with a new walk-in shower wrapped in spa-like ceramic tile. Enjoy new LVP flooring throughout and new carpet in the cozy bedrooms. An elegant staircase leads to the fully integrated lower level. You will be in the lower level without even noticing you're in the basement! This level offers a family room with direct access to a large patio and a flat backyard, perfect for outdoor gatherings. You'll also find a generously sized third bedroom and a versatile bonus room, ideal for an office, 4th bedroom, wine cellar, or future-ready space to add an additional bathroom if desired. For added peace of mind, the home includes updated electrical and plumbing systems, new energy efficient vinyl double-hung windows, and a brand-new water heater, ensuring long-lasting reliability. Prime Location! Nestled in a quiet, well-established neighborhood, this home offers easy access to shopping, dining, schools, and major highways, providing the perfect balance of serenity and convenience. This exceptional and unique property delivers ample space, modern finishes, and a thoughtful layout. Don't miss your chance to own this move-in-ready marvel!
Source: TRIANGLEMLS #10085164
Financials
Source: TRIANGLEMLS #10085164
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.