2818 Lolita Way, Forney, TX 75126
4 beds · 3 baths · 2,488 sqft
This is a Steal of a Deal! Located in Heartland, your Hometown is HERE! Howdy and welcome to the perfect spot in every way; quick access to the highway, down the street from the outstanding new elementary school, and a gorgeous greenbelt lot located in front of a precious pond and nature area. Your backyard opens to the preserve and allows private access just for you. A newer home that has been incredibly maintained and features an open floorplan with kitchen, living, dining and nook downstairs with one bedroom and bathroom. Upstairs the primary suite features an incredibly relaxing view of the pond and woods, with a cozy seated bay window. Imagine waking up every day to these views! Attached is a spacious ensuite with soaking tub and separate walk-in shower, and double vanities. Two additional spacious bedrooms, bathroom, and loft area complete the home and give everyone space to call their own. The close-knit community has amenities like resort style pool with water slides, gym, walking trails, fishing ponds, docks, activities, sport courts and playgrounds. What a great opportunity to get a dreamy home, in a beautiful neighborhood, in a growing town with desired schools, all for an incredible price, ready to call your own. Schedule your showing today and snatch this deal right off the market! This home qualifies for ZERO DOWN USDA LOAN!
Source: NTREIS #20867849
Source: NTREIS #20867849
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What 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.