216 Canyon Dr, Decatur, TX 76234
3 beds · 2 baths · 2,250 sqft sqft
Your Multi gen estate awaits! This property is nestled in the highly desirable Reatta Estates on a double cul-de-sac lot of over 2 acres, and features two fantastic living spaces! The Primary home is a 3 bed and 2 bath, sitting at 2250 sq ft and offers a spacious master bedroom with an extra closet, large ensuite bathroom with jetted tub and tiled walk in shower, separate vanities and large walk in closet! The garage has been transformed into a versatile bonus space, perfect for a second living, game room or even a movie room! Just a quick walk across the driveway, The additional guest quarters is sizable at over 1900 sq ft, has a HUGE living room with a Murphy bed, 2 bed and 2 baths and is very thoughtfully designed. The well equipped kitchen features quartz countertops, ample cabinets, generously sized island and a separate pantry. The 2 full baths both have tiled walk in showers and to maintain living space convenience and privacy, the guest quarters features its own laundry.
Source: NTREIS #20668724
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20668724
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #20668724