1006 Newington Cir, Forney, TX 75126
4 beds · 2 baths · sqft
Assumable Mortgage at 2.99%!!!! Hurry to be the first one to assume this incredible interest rate and save more than $900 a month thanks to this incredible interest rate! With only a 10% down payment, you can assume the remaining years of this 30 year mortgage. Welcome to this beautifully designed Devonshire single story 4 bedroom, 2 bathroom home with an oversized owner’s suite that’s flooded with natural light. The open and airy floorplan features stunning solid handscraped hardwood floors throughout, complemented by three cozy fireplaces located in the living room, dining area, and office space perfect for setting a warm, inviting ambiance. The oversized owner’s suite serves as a private retreat, boasting abundant natural light and a spacious layout. The ensuite bathroom offers a tranquil space to relax, with modern finishes and ample storage. Three additional well sized bedrooms provide plenty of room for family, guests, or a home office. The heart of this home is the chef’s kitchen, which opens to the living and dining areas and is equipped with sleek stainless steel appliances, granite countertops, and plenty of cabinet space, making it ideal for both everyday meals and entertaining. Step outside into the large, grassy backyard perfect for outdoor activities or relaxing in the fresh air. The covered patio is ideal for entertaining guests or enjoying your morning coffee in peace. In addition to the incredible features of the home itself, this property is located within a vibrant community that offers a pool, playground, clubhouse, and a scenic walking or jogging path providing a perfect mix of comfort and convenience. Assumable mortgage requires credit approval which can take up to 60 days as per the lender. Save $900+ per month with this incredible interest rate.
Source: NTREIS #20779602
Financials
Source: NTREIS #20779602
Source: Public records
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%. 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.
Other resourcesWhat is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.