5060 Ridgecrest Dr, The Colony, TX 75056
3 beds · 3 baths · 2,648 sqft sqft
Welcome to 5060 Ridgecrest Drive, The Colony, TX! Discover a haven of comfort and convenience in this stunning, low-maintenance home. With its 2,648 sq. ft. of well-designed living space, this residence boasts 3 bedrooms and 2.5 bathrooms, a large oversized lot and NO HOA!! Perfect for the suburban lifestyle! Step inside to be greeted by an abundance of natural light illuminating the open floor plan that enhances the warm, inviting atmosphere. Spacious formal living and dining areas, a game room, and a heated pool & hot tub make this home an entertainer's dream! The custom kitchen features granite countertops, a large island, stainless steel appliances, a double oven, and a dining bar, making meal prep a delight. The family room with its charming gas fireplace provides a cozy retreat for relaxing evenings. And the primary bedroom, privately located downstairs, offers double vanities, H&H walk-in closets, and a jetted tub, ensuring a luxurious personal space. Upstairs you'll find two large secondary bedrooms, a bathroom, and a game room to accommodate family and guests. The home is situated in a well-established, hidden neighborhood adorned with beautiful trees and yards, providing a serene and picturesque setting. And what’s not to enjoy about convenience? Minutes from Lake Lewisville, miles of trails, shopping, dining and entertainment at Grandscape or surrounding areas, afford easy access to the tollway, I-35, and DFW Airport. **Seller’s will give CONCESSIONS towards carpet allowance!!** Don't miss the chance to own this exceptional home of elegance, comfort, and convenience!
Source: NTREIS #20754898
Interest rate and monthly payment estimated based on public records.
Source: NTREIS #20754898
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: #20754898
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.