1909 Smith Dr, Plano, TX 75023
4 beds · 3 baths · 2,499 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This is a fantastic opportunity to live in the Plano area for under $500K! Located in a quiet established neighborhood near shopping, restaurants and a little too to the Crumble Cookie Store. But don’t fret, you can work off those cookie calories in your own private backyard pool. This neighborhood is well maintained, but NO HOA costs. The home is a stately traditional reddish brick. The impressive entryway leads to a dining room. Alternatively, you may choose to work from this location. The entryway provides access to a versatile area that can serve as a playroom, living room, or office. You will love the living room and breakfast area with pool views. Along with the nice views, enjoy the wood burning fireplace as one of the focal points in the living room. The breakfast room seats at least six and seamlessly connects to the kitchen. You will love the kitchen with its bright tall kitchen sink window, prep island, plenty of countertops and cabinets. The pantry is conveniently located and has floor to ceiling shelving. The laundry room adds to the cabinet space and has a second sink. There is a half bath downstairs that will be great for pool guests. The primary bedroom and bath have so many windows, it’s like living in a tree house. The primary ensuite includes double sinks and vanities, a separate shower, a soaking tub, and a walk-in closet. Upstairs, there are three large secondary bedrooms with ample closets and windows. If you are ready to up-size, this might be the house for you! Open Houses this Sat:11-3 and Sun:12-2windows. If you are ready to up-size, this might be the house for you!
Source: NTREIS #20854376
All values shown are estimated costs / mo.
Source: Public records
Source: NTREIS #20854376
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.