3512 Camden Dr, Melissa, TX 75454
3 beds · 2 baths · 1,876 sqft
Welcome to this beautifully designed 3-bedroom, 2-bathroom home nestled on a corner lot in the sought-after Liberty community. With tall ceilings, designer light fixtures, and an open-concept layout, this home perfectly balances style and functionality. The chef’s kitchen is a dream, featuring stainless steel appliances, granite countertops, a spacious island, a breakfast bar, and a gas stove—all seamlessly flowing into the inviting living room with a stunning stone gas fireplace. The primary suite is a private retreat with a spa-like ensuite bathroom, complete with dual sinks, a large shower, and walk-in closet. Two additional bedrooms offer comfort and flexibility. Step outside to an impressive backyard oasis! The extended 20x15 patio is plumbed for a gas grill and powered for a TV, making it ideal for entertaining. The backyard is all turf, complemented by a freshly stained fence for easy maintenance. This home is loaded with upgrades, including wood-look tile flooring in the main living areas, a spacious laundry room with space for an extra fridge or freezer, and a pre-wired security system and cameras with Fort Knox Security Systems. Located in the highly acclaimed Melissa ISD, this home is just a short distance from the elementary school and offers access to top-tier community amenities. Liberty features an amenity center with a resort-style pool and splash pad, a sports pavilion with gas grills, sand volleyball courts, a catch-and-release fishing pond, playgrounds, soccer fields, and scenic walking paths. Enjoy the small-town charm of Melissa while being just minutes from McKinney and Sherman!
Source: NTREIS #20882992
Financials
Source: Public records
Source: NTREIS #20882992
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.