611 N Lamar St Tioga, TX 76271
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About this home
This Cozy Home is back on the market! Don't miss your chance to own this piece of Texas small town life. A Perfect Blend of Comfort and Space. Welcome to this charming home, ideal for small families or anyone looking for a comfortable environment to experience small town life. Situated in a tranquil neighborhood, this delightful three-bedroom, 1 ½-bathroom home provides the perfect living space on a generous 0.45 acre tree lined lot. You'll enjoy a serene environment while having plenty of room for outdoor activities including a vegetable garden, allowing you to grow your own produce., or entertaining with plenty of room for your toys and to play. This home offers a harmonious combination of cozy interiors including a welcoming living area with plenty of natural light, creating a warm and inviting atmosphere for relaxation or entertaining guests. The functional kitchen is thoughtfully designed, providing ample counter space and storage to meet all your culinary needs. The home includes three comfortable bedrooms, perfect for family members or guests. The 1 ½ bathrooms are conveniently located and updated for modern functionality. An 8 ft by 16 ft storage shed provides additional space for tools and equipment, while the one-car garage adds convenience for parking or storage. Located close to local amenities, schools, and Lake Ray Roberts recreational facilities, this home provides the perfect balance between a quiet lifestyle and accessibility to everyday needs. Don’t miss out on this unique opportunity! Call us or your agent to schedule your private showing today and discover the charm and potential of this wonderful home. The current FEMA Flood Map appears to show the home is currently not in a flood plain. See attached copy of FEMA Flood Map or go to the Flood Map tab to view. All information is deemed to be reliable. Buyer and Buyer's Agent are responsible for confirming all information. Subject to lease with closing & possession 30-45 days after option period.
Source: NTREIS #20938733
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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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