4620 Wheat Field Dr, Mckinney, TX 75070
3 beds · 3 baths · 2,283 sqft
Nestled in the highly sought-after FRISCO ISD in quaint McKinney neighborhood with mature trees. This delightful home features 3 bedrooms, 2 & a half bathrooms, large living room & oversized kitchen. Open flexible floorplan with space for a study as well. Luxury vinyl plank throughout kitchen, mudroom, laundry hall and half bath. Huge kitchen features recent KitchenAid appliances, plenty of cabinets & counter space plus walk-in pantry. Windows provide good natural lighting...10 recently replaced with energy-efficient vinyl-frames that conveniently open inward for easy cleaning. The expansive primary bedroom features a cozy niche perfect for a desk or sitting area with views of backyard & adjacent greenbelt. The ensuite bathroom has been beautifully remodeled, showcasing a custom oversized walk-in shower with frameless glass, new flooring, double sink white oak and quartz vanity, new toilet & spacious walk-in closet complete with a custom closet system. The secondary bedrooms are generously sized, each equipped with closet systems—one even features a walk-in closet! The updated hall bathroom boasts a chic double sink quartz vanity with polished brass hardware, framed mirrors, and a new toilet. Convenient mudroom & extended laundry room with extra shelving for ample storage. The oversized 2.5 car, 25 ft wide garage provides plenty of space for bikes, sporting gear, workshop, or additional storage. Step outside to your fantastic backyard featuring a 20x22 patio with pergola, along with ample space for children & pets to play on this oversized lot. Other updates include HVAC system-2018, roof-2020, water heater-2022 Ext paint 2023. Walk to Comstock Elem & Scoggins Middle schools, plus neighborhood Montessori school. Neighborhood park, greenbelt areas, walking trail & fishing pond. Close to SRT-121, many restaurants, shopping, golf, gyms, plus the upcoming Costco & Surf Park. Ideal home for owner-occupied or investor looking for a move-in-ready rental home.
Source: NTREIS #20823928
Financials
Source: Public records
Source: NTREIS #20823928
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.