Welcome home to 1015 Permian Lane, a beautifully maintained, single-owner residence in the heart of Allen. This spacious 4-bedroom, 3.5-bath home offers the perfect blend of comfort, convenience, and long-term value in the highly sought-after Allen Independent School District. From the moment you arrive, you'll appreciate the pride of ownership that has gone into maintaining this property. Inside, the home features a thoughtful and functional layout designed for both everyday living and entertaining. The generous living spaces flow seamlessly, providing plenty of room for family gatherings, hosting friends, or simply relaxing at home. The well-appointed kitchen opens to the main living area, creating a welcoming environment where everyone can stay connected. The spacious primary suite offers a private retreat, complete with an en-suite bathroom designed for comfort and convenience. Three additional bedrooms provide flexibility for guests, family members, a home office, or a workout space. With 3.5 bathrooms throughout the home, everyone has room to enjoy their own space. One of the standout features of this property is the rare opportunity to assume an existing VA loan with an incredibly low **2.25% APR**, offering qualified buyers the chance to secure financing well below current market rates—an exceptional advantage in today’s market. Location is another major highlight. Situated just minutes from U.S. Highway 75, commuting throughout the greater Dallas metroplex is quick and convenient. The home is also close to shopping, dining, parks, and entertainment options including Allen Premium Outlets and Watters Creek at Montgomery Farm. With its ideal location, excellent schools, and the rare benefit of an assumable low-interest VA loan, 1015 Permian Lane represents an incredible opportunity for buyers looking for both lifestyle and financial advantage. Schedule your showing today and come see why so many people love calling Allen home.
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
