7005 Trendal Ln, Austin, TX 78744
4 beds · 2 baths · 1,399 sqft
BOM! Home has just had some improvements from a previous transaction. New roof, new exterior paint, new combustion air vents. The home comes with a lifetime foundation warranty! This property, situated in the heart of the bustling 78744 area, is a diamond in the rough, ready for your transformative touch. Set on a substantial corner lot and fully fenced for privacy, this house offers an intriguing canvas for your creative vision. The exterior showcases a blend of limestone and Hardi siding. Additionally, the garage has been converted, presenting a versatile space for expansion and innovation. Inside, the house boasts four bedrooms and two full bathrooms, laying the foundation for a flexible and functional layout. Tile flooring spans throughout, making maintenance a breeze and leaving ample room for your design aspirations. The spacious living area comes complete with a cozy fireplace and abundant natural light, offering the perfect space for gatherings and quiet nights. The galley-style kitchen boasts wood cabinetry, granite countertops, and stainless steel appliances. It's equipped with generous storage space, offering the potential to tailor the kitchen to your specific needs. The primary suite is your tranquil escape, featuring two closets and an ensuite bath that beckons for a refreshing update. Step outside, and you'll discover a vast yard with a covered back patio. This outdoor space has boundless potential for entertainment, relaxation, and a host of future possibilities. Positioned with easy access to I-35 and only seven miles from downtown Austin, it's a strategic investment opportunity that invites creative ingenuity. Don't miss the chance to turn this property into a profitable and captivating venture. **This property qualifies for a 2.5% interest rate improvement**
Source: ACTRIS #4879965
Interest rate and monthly payment estimated based on public records.
Source: ACTRIS #4879965
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: #4879965
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.