5507 Elk Valley Estates Dr Saint Louis, MO 63128
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About this home
MANSION ON THE HILL – A Custom Estate on 3 Acres Welcome to your dream estate! Custom-built, all-brick luxury home sits atop 3 private acres in an exclusive enclave of just five homes. Perfectly located minutes from Tesson Ferry, near Mercy South, the YMCA, Starbucks, Dierbergs, and more. 5 bedrooms (plus potential 6th in basement); 7 Bathrooms (4 full, 3 half); 3 Fireplaces; 10,000+ sq ft of living space. Step into a grand double spiral staircase foyer w/ marble flooring that sets the tone for this elegant home. The atrium-style family room boasts soaring 22-foot ceilings, floor to ceiling windows, custom millwork, custom shelving, wet bar and fireplace. Updated kitchen with attached hearth room w/ fireplace. Elegant dining room w/ coffered ceiling. Huge master suite w/ jacuzzi tub, separate shower, his & hers vanities. Entertainer’s Dream Basement: Fully finished, 10’ Ceilings, HUGE family room w/ Commercial-sized bar, Game room, Pool room, Library, Display room, Bonus room (potential 6th bedroom), Full bath, Hidden safe room behind the bar, Walkout to patio. Recent updates include: New roof, New flooring, Updated kitchen & bathrooms, Fresh paint throughout Enjoy the luxury of stained glass windows, freestanding dual spiral staircases, and serene views from every room. This home offers the perfect blend of grandeur and comfort. You simply must see this home in person as there are too many custom upgrades to mention them all. See virtual tour link below.
Source: MARIS #25057266
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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.