1613 Burgundy St, Garland, TX 75040
3 beds · 2 baths · 1,317 sqft
Welcome to this beautifully updated 3-bedroom, 2-bathroom home with 1,317 square feet of move-in-ready charm! The modern kitchen features brand-new quartz countertops, new stainless-steel appliances, and stylish new flooring throughout. Plush new carpet in all bedrooms adds comfort and new 2in. blinds have been installed along with new commodes. The fully gated backyard includes a spacious 2-car garage and covered parking on a 7,492 square foot lot. Located in a peaceful neighborhood with mature trees, near a park and playground, and just minutes from the President George Bush Turnpike, you'll have easy access to Dallas and Frisco. This home qualifies for Community Affordable Loan Solution mortgage (Bank of America will provide a down payment to help lower your loan amount, reducing your monthly payment. Zero lender closing costs.) or Homebuyer Grants (Home Grant that covers up to $7,500 in eligible closing costs; and, Down Payment Grant that pays up to $10K toward your down payment.
Source: NTREIS #20657256
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20657256
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #20657256
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.