Welcome to this beautifully maintained home in the highly sought after master planned community of Devonshire, where resort style living and everyday convenience come together perfectly. From the moment you arrive, you will notice the pride of ownership and meticulous care throughout this gently lived in home. Inside, the open concept layout is filled with natural light and designed for both entertaining and everyday living. Durable and stylish LVP flooring flows through the main living areas, offering the perfect combination of beauty, resilience, and low maintenance living. The spacious kitchen is truly the heart of the home, featuring abundant cabinetry, granite countertops, stainless steel appliances, a large island with seating, and seamless flow into the living and dining spaces. Soaring ceilings and an open upstairs overlook create an airy feel that makes the home feel even larger. The oversized living areas provide incredible flexibility, including a spacious upstairs game room or second living area perfect for movie nights, a playroom, or home office setup. The private primary suite offers a relaxing retreat with dual vanities, a large walk in shower, and generous storage space. Step outside to enjoy the covered patio and spacious backyard with plenty of room to relax, entertain, or play. Living in Devonshire means access to some of the area’s best amenities including multiple ponds, two community pools, a basketball court, sand volleyball pit, greenbelts, walking trails, and beautifully maintained common spaces that make this neighborhood one of Forney’s most desirable communities. Conveniently located with easy access to shopping, dining, schools, and Highway 80, this home truly checks all the boxes.
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.
