1211 Coleman Dr Melissa, TX 75454
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About this home
Welcome to the growing community of Melissa, Texas! The Villages of Melissa offers wonderful amenities including a community pool, pickleball court, and putting green. This spacious home features two en suites—with the primary suite on the first floor and a second suite upstairs, along with two additional bedrooms and a large game room or living area. The main living spaces are designed with an open concept, seamlessly combining the kitchen, dining, and family room. The main floor also features a flex space which can be used as a study,office or a private living space. The options are yours to choose. This home has many thoughtful upgrades, including a new roof and gutters in 2024, freshly painted exterior, and a recently stained fence. Inside, the kitchen shines with new black stainless appliances, adding both style and function. Elementary school children in Villages of Melissa are now attending the new Highland Elementary School. Information provided is not guaranteed and should be independently verified. Buyer or Buyer's Agent to verify measurements, schools, & tax, etc. Please note video and or audio equipment by sellers may or may not be in use. Information provided is not guaranteed and should be independently verified. Buyer or Buyer's Agent to verify measurements, schools, and tax, etc. Please note video and or audio equipment by sellers may or may not be in use.
Source: NTREIS #21059091
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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.
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