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3617 Fordham St

Frisco, TX 75036

3 beds · 2 baths · 1,862 sqft

$420,000

$2,783/mo with 2.96% Express Financing

$3,563/mo with 7% bank financing

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About this home

It doesn't get better than this! Highly sought-after 3-bedroom, 2-bath home in Rivendale by the Lake boasts charming curb appeal with a large, covered rocking chair front porch perfect for relaxing. Step inside to find a spacious kitchen complete with a center island, breakfast bar, granite countertops, stainless steel appliances, and a gas range, ideal for the home chef. The open-concept layout connects the kitchen, dining area, and cozy family room, which features a lovely stone fireplace, making it perfect for entertaining. The home offers a mix of luxury vinyl wood-like plank and carpet flooring, adding both warmth and comfort. The private primary retreat features a large ensuite with a garden tub, separate shower, and dual vanities. Outside, the private backyard is beautifully landscaped, offering a patio with a pergola and a small shade tree, perfect for outdoor relaxation. Some appliances will convey with the home, adding extra convenience. Located in a quiet neighborhood with friendly neighbors, this property is just a short walk to the nearby lake and scenic walking trail. The community offers fantastic amenities, including a splash pad, pool with water slides, and playgrounds. Plus, enjoy the benefit of low taxes! Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home.

Source: NTREIS #20886875

1,862 sqft
5,488.56 sqft
Single Family
Built in 2015
2 car garage
Air conditioning
Fireplace

$2,783/month
Compared to $3,563/mo with 7% bank loan

$329,113
26y
2.96% 7%
$329,113 at 2.96% (FHA)
$0 at 8.125% No GAP financing needed

Payments are estimates and subject to approval. To learn more about rates, contact us.


Payment details
Principal & interest
$1,513
Mortgage insurance
$255
Property taxes
$591
Home insurance
$360
HOA fees
$62
Utilities
Not included
Total monthly payment
$2,783

Loan details
Loan type
FHA
Remaining balance
$329,113.93
Remaining term
26 yrs

Neighborhood
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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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Last updated: Jul 15, 2025 07:12 pm
Listing provided courtesy of: Orchard Brokerage, LLC (844) 819-1373
Details provided by NTREIS and may not match the public record.
MLS ID: #20886875
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the NTREIS Multiple Listing Service. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
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