129 Banner Ave Royse City, TX 75189
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About this home
This inviting two-story home in the sought after Valor Farms community offers 4 bedrooms, 2.5 bathrooms, and 2,641 square feet of thoughtfully designed living space. Built in 2021, the property features an open floor plan with a spacious living room accented by a custom feature wall, creating a perfect setting for family gatherings or entertaining guests. The kitchen boasts an island, pantry, eat-in area, and custom lighting that flows seamlessly into the dining room. Additional highlights include a flex room with extra storage, an upgraded laundry room with built-ins, and a smart home system for modern convenience. Upstairs, you’ll find three generously sized bedrooms and a full bathroom, while the primary suite on the first floor offers a walk-in closet and private bath. Outside, the large backyard provides ample room for outdoor activities, gardening, or weekend relaxation. Located on a 0.145-acre lot in Royse City ISD with nearby schools including Ruth Cherry Elementary, this home also includes access to HOA amenities and is situated near parks, shopping, and dining with easy highway access. Best of all, the home qualifies for an assumable 2.8% FHA loan, making it an incredible opportunity to lock in a low interest rate. Call the listing agent today for details and to schedule your private showing!
Source: NTREIS #21066242
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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.