5903 MEDIAN RD, Austin, TX 78734
Incredible opportunity available with SELLER FINANCING at a nearly 4% interest rate! Inquire for details on the seller financing. This property is being sold as a turnkey short-term rental but would also be a phenomenal opportunity for anyone looking for a unique property near the lake with a super low interest rate! It is nestled i near Lake Travis. This exquisite property, reminiscent of a romantic Tuscan vineyard, offers unparalleled luxury and serene beauty. Sold fully furnished and ready for guests or immediate move in, Villa De Oaks promises an exceptional return on investment with a projected annual revenue of $103,000. Secluded and secure, this gated property ensures privacy and peace for all visitors. Luxurious amenities, including a hot tub that seats 6-9, two fire pits with ample seating, and a meditation yurt with a daybed and seating for 8-10. The home is adorned with over 40 unique paintings and sculptures by local artists, adding a distinct charm to every corner. Entertainment options are plentiful with a game room featuring a reclining couch, Smart TV, and both PS and Xbox gaming consoles, complemented by a Baby Grand Piano, bongos, and a tambourine. The home currently offers three large bedrooms, two full bathrooms, and a convenient powder room. Though there is huge opportunity to increase the income on the property by finishing out the garage and the casita PLUS there is space for a pool. Villa De Oaks is conveniently located just minutes from Lake Travis. On-site parking includes space for jet skis or a boat, enhancing its appeal to vacationers. There is also ample parking if you were to use the home for weddings and events. Take advantage of this rare opportunity to own a piece of prime real estate with so much charm while securing an incredible investment. Inquire for more information! You have to see this property in person... It is stunning! With recommended improvements the property could generate 180k+ in annual revenue!
You may be able to put down less than the total down payment amount of $245,636 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: #1472845