530 Crosswater Ln, Dripping Springs, TX 78620
5 beds · 5 baths · 4,438 sqft
Luxury Home with Pool, Spa & Greenspace Views Welcome to 530 Crosswater Loop, a stunning home designed for comfort and entertaining. Backing to greenspace, this home features a custom pool & spa (2022), extended covered patio, built-in outdoor kitchen, and wood-burning fireplace. The gourmet kitchen boasts custom cabinetry, soft-close drawers, under-cabinet lighting, an oversized island, pot filler, and high-end Blue Star appliances, including double ovens, a gas cooktop with a grill, and a commercial built-in refrigerator. A reverse osmosis system provides pure drinking water. Inside, enjoy designer touches like upgraded light fixtures, custom window coverings, and a pre-wired speaker system. The primary suite features an extended bay window, soaking tub, dual vanities, and two spacious walk-in closets. The guest suite includes a private ensuite bath with a walk-in shower, while secondary bedrooms offer large closets and a Jack-and-Jill bath with dual sinks. The custom-built secondary office includes built-in bookcases. Upstairs, a spacious bonus room includes a full bath, minibar with sink, under-sink filtration, and space for a mini fridge. The optional 5th bedroom (currently an exercise room) includes a closet, window, and door. The three-car garage offers an epoxy-finished floor, water-softener system, and iQ remote-access garage doors. The laundry room features a deep sink, cabinets, and nearby drop zone. Smart home features include Ethernet wiring, WAPs, a Ring security system, and iDevice controls for thermostats and lighting. Professionally maintained landscaping, pool, and pest control provide peace of mind. With high-end finishes, extensive upgrades, and a prime greenspace location, this home is a rare find. Schedule a private tour today!
Source: ACTRIS #1859500
Financials
Source: Public records
Source: ACTRIS #1859500
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.
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 “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.