1837 Cota St Royse City, TX 75189
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About this home
**Take advantage of an enticing 5.15% assumable interest rate** You’ll feel right at home in this stately residence, nestled within the family-friendly Verandah community of Royse City. As you approach the home, you're greeted by its picture-perfect curb appeal, creating a warm first impression. The expansive open concept layout offers well-appointed elegant spaces that effortlessly flow into one another creating an ultimate setting for family living and entertaining. Step inside to a spacious entryway, followed by a flex space that can serve as a formal dining room, 2nd living area, or playroom—whatever fits your lifestyle best. The chef in your family will enjoy preparing meals in the open-concept kitchen, featuring crisp white cabinetry, ample counter space, a gas range, and center island. The inviting family room is filled with natural light and serves as a cozy yet open space to gather with loved ones. The primary suite is tucked in the back of the home and boasts a beautifully appointed bath with dual sinks, soaking tub, and a walk-in shower. The secondary bedroom near the entry is positioned next to a full bath, making it an ideal space for guests or in-laws. Upstairs, you’ll find a game room and two additional secondary bedrooms. Enjoy the neighborhood amenities, including a sparkling pool with children's splash area, playground, sports field, charming ponds, and miles of trails. Serviced by Royse City ISD, this home offers the added benefit of being just a short walk to Ruth Cherry Elementary down the street. Excellent and rapidly appreciating location with easy access to I-30 and countless shops and restaurants nearby.
Source: NTREIS #21072790
Loan details
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Close stress-free in 45 days, handled start to finish by Roam.
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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.