6869 Cape Cod Dr Grand Prairie, TX 75054
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About this home
Price improvement and seller is offering a $5,000 concession towards updates or closing costs! This beautiful, vibey home in the highly desired Grand Peninsula neighborhood needs to be seen in person to believe. Unique open floorplan features a sitting room and formal dining, wrapping around to the cozy living room. The kitchen is an entertainer's dream with high ceilings, cabinets galore, tons of counter space, gas stove and an amazing island that is large enough to seat at least 6! Another dining area sits right next to the kitchen, making hosting guests a breeze. Relax in the serene primary bedroom with a luxurious recently upgraded bathroom. Large bonus room between the secondary bedrooms is perfect for an office, third sitting room or even a game or play room. Upstairs is a real treat, with a professionally set up media or music room boasting sound balancers, big TV and media equipment, all of which will stay for the new owners to enjoy! The home has areas of new flooring, new roof in 2024, new smaller HVAC unit inside and out in 2022, backup Generac generator, bathroom renovations and epoxy flooring in garage. All large appliances will stay with the home, including the ones in the garage. The adorable backyard has a small enclosed sitting room, covered patio and courtyard to enjoy gardening and company in the seclusion of an 8ft wood privacy fence. Kick back on the covered front porch and relax with the close knit wonderful neighbors who live on the block. Only two blocks from the community pool and the elementary school. Zoned to highly rated Mansfield ISD schools, and nearby to Joe Pool lake with easy access to all the town's amenities and the highway. Come check it out today!
Source: NTREIS #21023385
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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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