2104 Prospect Dr Frisco, TX 75036
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About this home
Welcome to this exquisitely designed home located in the highly sought-after Phillips Creek Ranch subdivision. This spacious property offers 5 bedrooms, 5 bathrooms and a 3-car garage situated on a premium corner lot. Upon entering the home, you will find an open floor plan for the kitchen, breakfast and living area while also providing a well designed separation for the office and primary bedrooms to allow for privacy when needed. The primary suite and a secondary primary bedrooms are both located downstairs that is ideal for guests or multi-generational living. The kitchen space offers a large island, a double oven, quartz counter-tops as well as abundant cabinetry with elegant finishes in neutral tones. Upstairs you will enjoy a large game room, media room and three bedrooms that offers more flexibility for use of the space. Entertainment will be effortless with a resort-style pool that can be heated and also cooled, a spa, and multiple waterfalls. The outdoor kitchen offers a built-in grill with a rotisserie cooker and an electronic shade to help keep the cook cool while preparing meals. The large covered patio provides enough space for relaxing and enjoying a meal with electric draw down shades to provide privacy when desired. The pool decking is made entirely of limestone pavers while surrounding areas have been covered with pet specific, high permability turf to assist with low maintenance. Sprinklers were left in place in turf area to allow for cleaning and cooling of the turf when needed. West facing windows have been tinted to keep the turf from scorching. Irrigation system has an upgraded Rachio smart controller that monitors the weather and will automatically adjust. Interior of house has been recently painted. No detail has been forgotten with this beautifully maintained, one owner home.
Source: NTREIS #21021197
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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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