517 VANCE ST, Taylor, TX 76574
Step into a piece of Texas history with this meticulously restored Craftsman-style gem, originally built in 1880 and once the proud residence of Confederate War hero Lt. John Lloyd. This extraordinary home seamlessly blends historic charm with modern amenities, offering a unique living experience in the heart of Taylor's vibrant downtown district. As you approach, you'll be captivated by the classic Craftsman architecture, featuring original wood flooring, intricate wood beams, and decorative windows that evoke the elegance of the era. Inside, the home has been thoughtfully updated to provide contemporary comforts while preserving its historic character. The chef’s kitchen is a true masterpiece, boasting stainless steel Whirlpool Pro appliances, a farmhouse sink, and an oversized island with granite counters and a wood block cutting board. The space is further enhanced by white cabinetry, custom backsplash, and built-in pet dishes with a convenient water bowl filler. The open living concept is complemented by the warmth and craftsmanship of original woodwork and architectural details. The backyard oasis is an entertainer’s dream, featuring a sparkling pool and spa, a well-manicured putting green, and a covered patio. Impeccable landscaping enhances the serene outdoor environment. Additionally, a detached air-conditioned office space and a storage shed provide both functionality and flexibility. Located within walking distance of the historic Taylor downtown district, this home offers easy access to an array of restaurants, bars, and shopping options, making it the perfect blend of historic charm and modern convenience.Don’t miss this rare opportunity to own a piece of history with all the comforts of contemporary living. Schedule your visit today and experience the exceptional lifestyle this Craftsman home has to offer.
You may be able to put down less than the total down payment amount of $40,912 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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% 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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #5233522