1401 Old Trail Rd Royse City, TX 75189
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About this home
Up to 1% Lender Credit Toward Buyer’s Purchase! - HUGE Backyard - CORNER LOT - VERY PEACEFUL - Welcome to 1401 Old Trail Road, Royse City, TX 75189, a beautifully maintained home in the desirable Magnolia community offering one of the best price-per-square-foot values in the neighborhood. This stunning 4-bedroom, 3-bath residence feels almost brand new, having been lightly lived in by an owner who traveled frequently and cared for it meticulously. Step inside to find a bright, open-concept design with soaring ceilings, modern finishes, and a spacious kitchen featuring granite countertops, stainless steel appliances, and a large island perfect for entertaining. The upstairs has rarely — if ever — been used, leaving carpet, paint, and fixtures in like-new condition. The inviting primary suite features a large walk-in closet and a private ensuite bath with double vanities. Outside, enjoy a massive backyard that provides endless possibilities — plenty of room to add a pool, outdoor kitchen, garden, or play area while still maintaining a spacious yard for gatherings and pets. The covered patio is perfect for relaxing evenings or weekend barbecues. Located in the sought-after Magnolia community, residents enjoy access to a community pool, playground, and walking trails surrounded by peaceful green spaces. The home is ideally positioned near downtown Royse City, Buc-ee’s, Rockwall’s Harbor District, Lake Ray Hubbard, and I-30, offering easy access to shopping, dining, and quick commutes to Dallas. With its exceptional condition, unbeatable value, and expansive backyard, 1401 Old Trail Road stands out as one of the best opportunities in Royse City. Take advantage of the up to 1% lender credit and make this like-new home yours today!
Source: NTREIS #21081816
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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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