9 Ridge Dr, Lake Dallas, TX 75065
4 beds · 3 baths · 2,404 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Reduced again apx $30K to go quickly because we clsoed on another home! Just a few blocks from the lake and Arrowhead State Park is this NorthEast facing 4-2.5.2 one story in a custom and wooded neighborhood. No HOA, No MUD or PID! At the lake park, there are 2 boat docks, updated covered playground with astroturf for kids, pavillion, picnic area, trails and fishing. Also, lots of wildlife including deer at that park. Quick and EZ access to 35 yet tucked away from it all. Not a cookie cutter lot either - this is a .224 acre lot with mature trees, sprinkler system and fenced yard. Having over 2400 sqft, this is a 4 bedroom, 2.5 bath with 2 big living & eating areas a versatile floor plan. The dining room can make a nice office! The game room has a half bath. There is a full 2 car rear entry garage. Updated lighting & fans. Very energy efficient with gas heat and 2 gas water heaters. The Den has a wood shiplap vaulted ceiling with 2 skylights above the brick fireplace with gas logs. The kitchen has a farmhouse sink with a 3 stage reverse osmosis water purification filter. The roof was replaced in 2022 and the foundation looks great! The fenced yard has a covered patio area perfect for grilling. This is the best bang for the buck per sqft in the whole area! Perfect for an investor or first time buyer. Get in on this instant equity deal today! CMA shows $435Kish. PLEASE EXCUSE ANY MESS OR CLUTTER WHEN SHOWING - THE OWNER IS IN THE PROCESS OF MOVING OUT AND THE HOME WILL BE PROFESSIONALLY CLEANED.
Source: NTREIS #20829283
All values shown are estimated costs / mo.
Source: Public records
Source: NTREIS #20829283
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.
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.
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.
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.
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.
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.