1009 Macaw Dr, Forney, TX 75126
4 beds · 4 baths · 3,831 sqft
This First Texas home, nestled in a serene cul-de-sac, is conveniently located a short walk from the community pool and park facilities. While it requires some attention to detail to restore its full charm, the house has great potential. The ground floor features wood-like tile in the living and dining areas, complemented by an open kitchen equipped with a large granite island, butler’s pantry, double oven, and gas range complete with a pot filler and touch-activated faucet. The main living area is highlighted by a two-story ceiling and a bold stone fireplace that anchors the space. The master suite on the first floor includes a bathroom with double sinks, a garden tub, a spacious shower, and dual closets. An elegantly curved staircase with wrought iron details leads to the upper floor, where a second living area awaits, including a game room, three sizable bedrooms, and an additional media room. The property is also equipped with a sprinkler system and enclosed by a privacy fence, enhancing the secluded back patio that's perfect for both intimate and larger gatherings.
Source: NTREIS #20879976
Financials
Source: NTREIS #20879976
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.
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