4007 Bay Leaf Loop Von Ormy, TX 78073
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About this home
The Jasmine is a two-story home that features 4 bedroom, 2.5 baths, 2-car garage. The gourmet kitchen includes granite counter tops, stainless steel appliances, and an open concept floorplan with the kitchen leading to the dining and family room area. A powder bath is located off the entry foyer nook. The private downstairs first bedroom is built with an attractive ensuite which includes a walk-in shower, water closet and grand walk-in closet. A versatile loft greets you at the top of the stairs and is a perfect entertainment area. All secondary bedroom and second full bath are also located upstairs. The rear covered patio located off the family room comes as a standard built in. Additional features include sheet vinyl flooring in entry, living room, and all wet areas, granite bathroom counter tops, white cabinets (per plan) and full yard landscaping and irrigation.
Source: SABOR #1879392
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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.