31534 Elkcreek Bend Dr Hockley, TX 77447
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About this home
Wonderful one story home in Stone Creek Ranch. Stone and brick façade on this home is welcoming and inviting. Large Livingroom is open to Kitchen, Breakfast room, and the formal Dining room with is being utilized as a great Game room setup. Kitchen has stainless appliances, beautiful backsplash, granite countertops with plenty of countertop space, cabinet space and pantry. Breakfast room is at the back of the home with plenty of natural light from the windows. Primary Bedroom has nice bay windows and the Primary Bathroom has double sinks, large separate shower and tub, great size primary walk-in closet and features doorway access to the utility room in the home. Two secondary bedrooms are off the entryway hallway with a secondary bathroom between them. 4th bedroom also being used as playroom at this time. Covered patio in the backyard and landscaped well for relaxing in your yard. No back neighbors! Easy access to 290 and surrounding area. Nice community has pool, parks, and trails.
Source: HAR #78485794
Loan details
Neighborhood
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.