5244 Canfield Ln, Forney, TX 75126
4 beds · 2 baths · 1,852 sqft
Stunning 4-Bedroom Home in Highly Sought-After Clements Ranch! PROPERTY QUALIFIES FOR USDA 100% FINANCING! Discover this beautifully designed home in the desirable Clements Ranch community of Forney, TX! This charming 4-bedroom, 2-bath home boasts an inviting open floor plan with wood-like tile flooring in the living area and front bedroom, perfect for a home office. Soaring 10-foot ceilings create an airy feel, while the cast stone fireplace with gas logs and electric starter adds warmth and elegance. Enjoy immersive sound with built-in surround sound speakers in the living room, plus modern smart home features, including a smart lock front door and security camera doorbell. The spacious eat-in kitchen is a chef’s dream, featuring dark wood cabinetry, granite countertops, a stylish tiled backsplash, and stainless steel appliances, including a gas range. The generous breakfast area provides plenty of space for gatherings. The primary suite is a peaceful retreat with large windows overlooking the backyard, allowing for ample natural light. The ensuite bathroom offers a garden tub, separate shower, dual sinks, and a walk-in closet. Step outside to a pool-sized backyard designed for entertaining! The 14x8 covered patio is pre-wired for sound, and an additional 25x10 open patio provides even more space for outdoor fun. Nestled in Clements Ranch, this community offers scenic walking trails, stocked fishing ponds, a resort-style pool, fitness center, and a stunning clubhouse set in a historic ranch house. Located in Forney, a rapidly growing city just east of Dallas, you’ll enjoy small-town charm with easy access to shopping, dining, and top-rated schools. Don’t miss your chance to own this exceptional home—schedule your showing today!
Source: NTREIS #20857819
Financials
Source: Public records
Source: NTREIS #20857819
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.