5604 Datewood Ln, Mckinney, TX 75071
4 beds · 4 baths · 2,755 sqft
Turn-key home brimming with upgrades and smart home amenities, and a modern pool and spa, located in Heatherwood neighborhood, zoned for sought-after Prosper ISD and walking distance to Baker Elementary! The brick front porch leads to a speakeasy front door with wrought iron embellishments, a keyless-entry pad, and a Ring smart home doorbell. The front entry welcomes you with engineered hardwood floors, architectural archways, new paint throughout, and site lines that reach all the way to the back yard pool and spa. Host dinner parties in the formal dining room, and serve cocktails and appetizers through the bar-butler’s pantry off the kitchen. The fully-stacked, eat-in kitchen offers easy-to-clean engineered wood floors, white cabinets with deep set drawers, granite countertops, a black subway tile backsplash in a herringbone pattern, and an unforgettable kitchen island, adorned with two new brushed nickel pendant lights. The kitchen also includes stainless steel appliances and a designated breakfast room. The light and bright living room features an exceptional, floor-to-ceiling stone fireplace with a raised hearth and a wooden mantel, and 3 ceiling-height windows with tranquil views of the back yard pool and spa. The primary suite is a relaxing retreat showcasing vaulted ceilings with crown molding, large windows with pool views, and a lavish en suite bathroom. Bedrooms 2, 3, and 4, are all located on the first floor, along with two additional full bathrooms. Oversized, second floor game room could also serve as a media room, office, she-space, or man cave, and includes it’s own guest bathroom. The back yard provides the ultimate summer experience and private oasis, showcasing a modern pool and spa with cascading waterfalls, and outdoor living and dining! Residents of Heatherwood enjoy the community pool, park, playground, and walking trails, located minutes from the exceptional shops and restaurants of McKinney!
Source: NTREIS #20887162
Send questions to support@withroam.com
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: NTREIS #20887162
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 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.