517 Tatum Pl, Rockwall, TX 75032
5 beds · 5 baths · 5,664 sqft
Looking for a luxurious living experience? Look no further! As you approach the end of the cul-de-sac, you’ll be welcomed by an impressive stone-look stamped driveway and grand 10-foot metal doors. Step inside, and prepare to be amazed! The stunning entryway boasts carpet-lined stairs paired with a beautiful rod-iron railing that wraps around to the upstairs balcony. Arched doorways and a striking stone floor with diamond inserts immediately capture your attention. To your left, step between the stately stone columns into the formal dining room, perfect for entertaining. As you move through the home, the cozy breakfast nook, nestled in a bay window, is the ideal spot to start your day. The chef’s kitchen is a dream, featuring custom cabinetry and exceptional attention to detail. It’s equipped with industrial-grade appliances, including a built-in refrigerator-freezer, double ovens, a six-burner gas cooktop with a grill, and an oversized walk-in pantry conveniently located across from the butler’s pantry. The master suite is a true retreat, complete with a sitting area, tray ceiling, and crown molding. The spa-like master bath includes a chandelier over the soaking tub, dual vanities, a makeup area, and a separate shower. The walk-in closet is a showstopper with custom built-ins and large windows that flood the space with natural light. Upstairs, you'll find three spacious bedrooms, a game room, and a craft room—ideal for work or play. Outside, the backyard offers complete privacy, where you can unwind by the pool or soak in the hot tub. The pavilion, nestled at the edge of your wooded lot, provides a peaceful retreat, while the outdoor kitchen and living space are perfect for entertaining. A convenient bathroom is just around the corner for added comfort. Above the three-car garage, solar panels help reduce energy bills while providing eco-friendly benefits. This home offers both luxury and efficiency in every corner!
Source: NTREIS #20876193
Financials
Source: NTREIS #20876193
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.