614 Ringwood St, Spring, TX 77373
4 beds · 3 baths · 2,590 sqft
614 Ringwood Street has seen numerous improvements including a 20kw Briggs and Stratton full home generator, double pane windows and new water heater. The downstairs has all tile floors + recessed lighting. The formal living could easily be a game room or study. The dining room has a beautiful chandelier and picture window. The kitchen has updated drawers and cabinets, Quartz counter tops, glass backsplash, built in microwave, Samsung convection oven and Bosch silence plus 46dBa dishwasher. The primary suite is spacious with plantation shutters, large walk-in shower, ceiling fan and walk-in closet. Three bedrooms up have all recently updated carpet + ceiling fans. The recently updated 2nd bathroom upstairs has dual separate sinks with granite countertops, vinyl flooring and shower surround. An oversized covered patio out back includes a spa hot tub, recessed lighting, and ceiling fans. Storage shed. Extensive driveway. Easy access to 45, IAH, The Woodlands and Old Town Spring.
Source: HAR #41308304
Interest rate and monthly payment estimated based on public records.
Source: HAR #41308304
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #41308304
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.