109 N James Unit 2 Quinlan, TX 75474
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About this home
New Price $449,000. FULL 2 UNIT DUPLEX FOR SALE! FHA Assumable Loan at 3.75% per Owner for Qualified Buyers. Custom Built and Beautiful Full 2 Unit Duplex FOR SALE. Both units alike w 3bdrm, 2.5 baths, 1 car garage w large concrete driveway for extra parking. As you walk thru foyer. you will see built in Cubby w bench seat storage for shoes, jackets, backpacks, etc. and half bath. The Kitchen boasts Black Granite counter tops w White Subway Tile backsplash, black appliances, Island w electric, barstool seating and extra cabinets. White cabinetry w plenty of storage. Living area features abundant natural lighting and french doors lead to your private covered patio and large fenced in yard on a .257 Acre Lot. Upstairs are nice sized bedrooms w carpet. Primary bedroom has ensuite bathroom w double shower and continues w the black granite,white tile w vinyl plank flooring. Full Size laundry w bi fold doors in each unit. Covered Patios and large backyard space. Additional vacant lot adjacent available For Sale and could build another Duplex or Townhome on that lot or purchase for own use. Residential road right off Main Street and Close to Walmart, Brookshires, Shopping and Restaraunts. Close to Lake Tawakoni and easy access to Rockwall and Dallas. Greenville is a short 10 to 15 minute commute. Seller lives on one side and has tenant in 2nd unit. Great Opportunity to live on one side and lease other side or lease both for investment purchase! NO HOA, MUD OR PID. Make your appointment to see ASAP!
Source: NTREIS #20999989
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.