6533 Caddo Ct, Plano, TX 75023
3 beds · 2 baths · 1,605 sqft
This ranch home located on a cul-de-sac corner lot in Plano has undergone a thoughtful remodel to deliver a beautiful 1-STY HOME with ample privacy and quiet surroundings away from busy roads. Transformations of this home demonstrate careful attention to quality while merging stylish design with practical function. The kitchen cabinets have been recently repainted, providing a fresh and updated look to the heart of the home. The built-in desk and bookshelves in this specialized office area create an ideal environment for remote work and study purposes. The open family room creates a welcoming ambiance through its inviting design while ceiling fans deliver additional comfort everywhere. The backyard oasis features a productive peach tree alongside a stunning shade tree and a covered patio that provides the perfect setting for morning coffee enjoyment or evening relaxation. The property benefits from being situated in a top-notch Plano neighborhood that is adjacent to the city's broad network of parks which provide numerous outdoor entertainment and green space options for residents. This property presents investors with an attractive opportunity that shows a forecasted 20.13% return over five years due to past property appreciation and rental income. Don’t miss this chance—schedule your showing today! This fully prepared home stands out from the rest—take action today and arrange your tour.
Source: NTREIS #20850743
Financials
Source: NTREIS #20850743
Source: Public records
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%. 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.
Other resourcesWhat 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.
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