552 Oak Leaf Trl Point, TX 75472
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About this home
Unique cozy home in East Tawakoni in the Whispering Oaks neighborhood on Lake Tawakoni with opportunity to purhase a lot next to the home. The home is located a few blocks from the city park and boat ramp. A great home for entertaining OR for the children to play in the large backyard. Wonderful LARGE covered patio area. Great shop with roll up doors on each end with a side carport. Plenty of room for all the lake toys and RV. The backyard is AWESOME and ready for all your neat ideas. Large living area with big brick fireplace that opens to the beautiful updated kitchen. LOTS of UPDATES including NEW cooktop, oven, quartz counter tops, glass backsplash, windows, flooring, paint inside and out, AC heatpump with warranty are just some of the updates. Load up the boat and spend a day pulling in the fish on Lake Tawakoni and come back to get them all clean in the great fish cleaning station for that big fish fry in the fun backyard with family and friends!! Blue Catfish, Channel Catfish, White Bass, Striped Bass, Hybrid Striped Bass, Largemouth Bass, and Crappie are some of the fish caught in Tawakoni. Great recreational lake for boating, skiing, jet skiiing, fishing and swimming. Buyers, buyers agents and appraisers to verify all in the listing for accuracy
Source: NTREIS #20953418
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.
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