216 Canyon Dr Decatur, TX 76234
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About this home
BACK ACTIVE, No fault of seller, Contingency expired. 4000 Plus Sq Ft, Multiple Dwellings on Property give you 5 bedrooms and 4 total bathrooms! Your Multi gen estate or family compound awaits! 2 Homes 1 Property! This property is nestled in the highly desirable Reatta Estates on a double cul-de-sac lot of over 2 acres, and features one primary home and one secondary to go with! The Primary home is a 3 bed and 2 bath, sitting at just under 2200 sq ft and offers a spacious master bedroom with an extra closet, large ensuite bathroom with jetted tub and tiled walk in shower, separate vanities and large walk in closet! The garage has been transformed into a versatile bonus space, perfect for a second living, game room or even a movie room! The home also has separate laundry, sizable kitchen with granite counter tops and a view to the back yard and a separate dining area that could also be used as a little office nook. Outside of the main home, there is ample parking space on a large concrete slab and additional space for more vehicles or trailer parking! Just a quick walk across the driveway, you will find covered parking for multiple vehicles, utility trailers and vehicles or mowing equipment. From there you enter the spacious 40x14 shop located between the covered parking and attached to the second residence. You also enter into The additional guest quarters which is sizable at over 1800 sq ft, has a HUGE living room with a Murphy bed, 2 bed and 2 full baths and is very thoughtfully designed. The well equipped kitchen features quartz countertops, ample cabinets, generously sized island and a separate pantry. The 2 full baths both have tiled walk in showers and to maintain living space convenience and privacy, the guest quarters features its own laundry area as well, helping to keep it as an independent space. This property is ready for anyone looking for a little extra space, a nice walkable neighborhood, and the ability to keep your family close by!
Source: NTREIS #20836041
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FAQs
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.
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.
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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