8460 Spicewood Springs Rd, China Spring, TX 76633
4 beds · 5 baths · 4,992 sqft
Welcome to 8460 Spicewood Springs Road, a breathtaking luxury estate in the highly sought-after Preserve Phase I at Bosque Bend. This exceptional property combines class, beauty, and elegance offering a main house and a recently completed secondary residence, totaling 6,594 square feet of unmatched sophistication! The main house, built by Loera Homes in 2011, spans 4,992 square feet and features four spacious bedrooms, four full bathrooms, a formal dining room, a home office, and an isolated upstairs theater with state-of-the-art sound, carpeting and a 3/4 bath. Every inch of this home showcases premium craftsmanship, from natural travertine flooring to custom faux paint finishes and exquisite knotty alder cabinetry throughout. Grand 12-foot Cantera wrought iron doors open to reveal stunning barrel ceilings, a massive stone fireplace, and a gourmet kitchen, including a top-tier appliances by Wolf: oven, microwave, and inductive stovetop. The refrigerator and dishwasher are new Samsung. Additionally, the kitchen island and ice maker feature a reverse osmosis water system, complementing the home’s whole-house water filtration and softener systems that serve both the main and casita water supplies. Perfect for entertaining, the outdoor living space has been completely upgraded. The oversized covered patio includes a built-in grill, wet bar, and oversized television with central overhead sound. The pool area features a fully automated Pentair ScreenLogic system with a new pump, filter, heater, plaster, tile, travertine cap, and bronze water feature. The redesigned pool deck, made with acid-stained stamped concrete, adds to the luxurious ambiance. A tranquil 7-foot jacuzzi and cascading waterfall provide the perfect backdrop for relaxing evenings or hosting gatherings. To complete the outdoor retreat, a new backyard sprinkler system has been replaced to prepare for lush landscaping enhancements or a finished back yard. The secondary Casita residence, complete
Source: NTREIS #227045
Financials
Source: Public records
Source: NTREIS #227045
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.
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 “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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.