720 Bailey Park Dr, Jarrell, TX 76537
4 beds · 3 baths · 2,042 sqft
Welcome to 720 Bailey Dr., Jarrell, Texas! This stunning KB two-story home, built in 2020, offers 4 bedrooms, 2.5 baths, a spacious living room, and a versatile loft, all within 2,042 square feet of well-designed living space. As you approach, you’ll be drawn in by the beautiful exterior, featuring a mix of brick and stone, along with a welcoming covered front porch. Head inside, where you’re greeted by a spacious foyer that leads into the heart of the home. The gourmet kitchen boasts sleek stone countertops, espresso cabinets, a built-in oven, microwave, electric cooktop, and convenient pull-out drawers. A large pantry provides ample storage. The open layout seamlessly connects the kitchen to the dining and living areas, making it perfect for entertaining. Picture yourself preparing meals while staying connected with guests or catching up on your favorite shows from the main living area. On the first floor, a convenient half bath ensures guest spaces remain separate from the private areas of the home. Upstairs, a cozy loft and all four bedrooms await. The primary suite is generously sized, with room for a sitting area, and the en-suite bathroom features a double vanity, a large shower, and a walk-in closet. The three secondary bedrooms are equally well-sized, while the secondary bathroom includes a large vanity and a tub/shower combo. Outside, enjoy a large backyard perfect for relaxation or play. The community features excellent amenities, including a pool, park, skate park, and walking trails, ideal for an active lifestyle and just a short walk down the street. Don't miss out on the chance to call this beautiful property home!
Source: ACTRIS #2221468
Financials
Source: ACTRIS #2221468
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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