661 Lancashire Ln, Prosper, TX 75078
4 beds · 4 baths · 3,000 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Stone Elevation. This 2 story 4 Br, 3.5 Ba in a Highly sought neighborhood, sits on a Corner Lot, the biggest lot in the subdivision. Rare opportunity to own this stunning home. Step inside to find an open floor plan with a vaulted ceiling in the living area. The kitchen is a chef's dream with granite countertops. attached microwave, lots of storage space, and a small island. Entertain in style with a formal dining room perfect for family gatherings. It boasts a large living area with a cozy fireplace and large windows that provide abundant light. The master suites include a dual sink, separate shower, and spacious walk-in closet. The expansive backyard with a covered patio is perfect for entertainment for family and friends. New Paint. Buyers and agents, please verify all MLS information such as schools, sq ft, and others. Property leased.
Source: NTREIS #20763841
Source: NTREIS #20763841
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.
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.
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 620, 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 and Equal Opportunity Act.