7616 Westgate, The Colony, TX 75056
2 beds · 2 baths · sqft
THIS BEAUTIFUL ONE STORY HOME BUILT BY TAYLOR MORRISON IS LOCATED IN WATERFORD POINT, A UNIQUE SECTION OF THE HIGHLY SOUGHT AFTER MASTER PLANNED COMMUNITY ON LAKE LEWISVILLE THAT HAS IT ALL, THE TRIBUTE! Waterford Point residents have exclusive access to their own amenity center with fitness area, infinity edge pool, outdoor kitchen, and pickleball courts (located just steps from this home). Additionally, they can enjoy award winning amenities featured within the Tribute including tennis courts, playgrounds, pools, splash pads, dog park, clubhouse, and more. There are also 2 golf courses on site as well as plans for a new marina. This split floorplan includes one bedroom and full bath off the entry, and a primary suite with bay windows overlooking the backyard. Along with 2 bedrooms there is a separate office with french doors which could be used as a game room. The kitchen is complete with a large granite island, 5 burner gas stove with drawers below for pots and pans, GE appliances, and beveled subway tile backsplash. Both bathrooms have rain shower heads and granite counters. The primary bath includes a dual sink vanity, spacious shower and walk in closet that conveniently connects to the laundry room. Tray ceilings in nearly every space create an open feel throughout. The 6-glass panel front door opens to an entry with two upgraded modern light fixtures. Enjoy quiet evening dinners on the oversized patio boarded by a tall & decorative wood fence and extra privacy with no neighbors behind this home. Other features to highlight are the 8-foot doors, tankless water heater, gas burning fireplace with mantel, and exterior lighting. Whether you are downsizing or buying your first place, this is a fantastic opportunity to own a turnkey home in a resort style community.
Source: NTREIS #20799084
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20799084
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: #20799084
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.