5840 County Road 202 Lampasas, TX 76550
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About this home
This stunning property spans over 15 acres and features a custom-built home with 3 bedrooms and 3 baths, offering a spacious 2,222 square feet of living space and 3000 total square footage. The open-concept design boasts concrete floors and a formal dining area that is currently being used as a living room. The Butler's Pantry seamlessly leads from the formal dining to a gourmet kitchen equipped with a gas cook-top, built-in ovens, high-end granite countertops, a ceramic farmhouse sink, stone accents, and shaker-style cabinetry. Throughout the home, you'll find luxury faucets that enhance its elegance. Additionally, the living room and primary bedroom feature electronic blinds with remote controls. The family room showcases a striking rock fireplace that extends to the ceiling, framed by a shiplap accent wall and a beamed ceiling. The primary en suite offers wood crown molding and a spacious layout, featuring a custom shower with dual shower heads, as well as his and hers vanities. A spacious walk-in closet, adorned with chandelier lighting, provides ample storage space. The laundry room is generously sized and includes a walk-in shower, and there's a mudroom with plenty of storage conveniently located off the laundry area. Outside, the above-ground pool with a large deck resembles an infinity pool and faces west, offering breathtaking sunset views over the panoramic Hill Country landscape. There is an inground storm shelter off the main house as well as a seasonal creek on the back of the property. Enjoy peaceful rural living, less than 20 minutes away from downtown Lampasas or Burnet.
Source: ACTRIS #3517687
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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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