300 Wesley Ridge Dr Spicewood, TX 78669
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About this home
**Option to assume Sellers' VA loan at 3.25% on the remaining +/-$350k principal.** 300 Wesley Ridge features an open & inviting floor plan in a gated waterfront community on Lake Travis. This 4-bedroom, 3.5-bathroom home on a 0.64-acre lot is ideal for comfortable daily living & entertaining. The great room features a striking stone fireplace, custom cabinetry, & large windows that bathe the space in natural light. Designed for the home chef, the kitchen boasts granite countertops, a generous center island, stainless steel appliances, & a sunny breakfast area. The main-level primary suite serves as a luxurious retreat, complete with a jetted tub, walk-in shower, & double vanity. Three additional bedrooms, a full bath, & a half bath on the main level make this home ideal for families or those seeking easy accessibility. Upstairs, a versatile space with a full bath offers endless possibilities functioning as a media room, workout area, or comfortable in-law retreat, with the potential to serve as an additional bedroom. Step outside to impressive outdoor living, featuring a covered patio with a fireplace & built-in grill. The multi-tiered deck is surrounded by mature shade trees & many young fruit trees. The fully owned solar panel system offers buyers reduced energy costs & sustainable living benefits, adding long-term value. The solar power cells are located in the ample 3-car garage. The community offers an enhanced lifestyle with a wealth of amenities, including a pool, tennis courts, two private boat launches, & a waterfront park. A marina offers options for boat slip purchase or lease when available, ensuring seamless access to Lake Travis. Spicewood is poised for dynamic growth, making this property an exceptional investment. With the highly anticipated Thomas Ranch development & ongoing new retail, restaurants, venues and more - the area’s desirability will continue to grow. Contact us soon to explore this exceptional home & community.
Source: ACTRIS #3362303
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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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