7916 Mcculloch Rd, Temple, TX 76502
4 beds · 3 baths · 2,028 sqft
Welcome to The Reserves at Pea Ridge Subdivision! This 4 bedroom 3 full bath home situated on a corner lot maximizes both interior and exterior living space! From the wide-spaced entry-way, you can be led to the main bedrooms and bathrooms, all gifted with perfectly sized closets and 2 full bathrooms equipped with built-in storage linen closets in addition to your vanity cabinetry! The paint selection of a cool-modern gray with the complementing gray wood vinyl flooring is the perfect choice to be the silent enhancer that can easily transition to any style you envision your home to-be! The kitchen is a classic white to enhance and brighten the home with builder custom cabinetry and modern light fixtures. The Sellers are gifting you with a stainless steel french-doors GE refrigerator! The living and dining is a shared space, great for openflow and entertaining. This kitchen offers a center island with bar seating, facing your living room and dining. It has a separate pantry for additional storage. Off the kitchen is your laundry room, that also has its own double-door linen closet! The rest of the home is reserved for the master and ensuite! The ensuite has a deep soaker tub and a oversized stand alone shower, upgraded with a dual-shower head! Of course, with all this bathroom you need a walk -in closet! Your backyard is perfect for entertaining, with covered back patio and beautiful white rock bed not only for aesthetics but for protection as well! This home boasts Texas-sized living! Comes with energy-efficient solar screens! The Temple Community has already started the construction of the South West Community Park Project that will include a new playground, in-ground skate park, dog park, basketball courts, pavilions, and trail system that will be walking distance and behind this neighborhood! Schedule your tour, today!
Source: CENTRALTEXAS #573789
Send questions to support@withroam.com
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: CENTRALTEXAS #573789
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 620, 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.