ASSUMABLE VA RATE of 3.875% for qualified buyers!! Ask us to help you qualify with our preferred lenders. With such a huge interest rate discount this property is begging for qualified VA buyers to enjoy the best of country living conveniently near downtown Cartersville, GA. Located in the coveted Spicewood neighborhood near shopping, downtown, schools, and more. Every inch of this beautifully situated two-story style home on a full basement accentuates the welcoming tones of the wood and LVP floors throughout, with an Etowah River view across the street to boot. The home features thermal double-pane and Bay windows throughout, newly speckled epoxy flooring in garage, New side Fenced Gates, all new basement tiled ceilings and can lights, new tiled primary bathroom shower, and so much more to see. Stepping into the kitchen protected from the elements in the attached garage, you enter to take in the opened up kitchen floor plan looking over the granite countertops and beautifully done kitchen cabinets. As you open the back porch door to enjoy meals in your private backyard on the deck, you take in the perfect greenery of your own .61 acre corner lot - all secluded and nicely tucked away across from the Etowah River. This home features a gym/workout room, basement in-law suite with full bath and with daylight access to the side yard, and a spacious floor plan with 5 bedrooms, and 3 and a half baths - perfect for families and entertaining! Come see this gem with almost nothing else to compare to in the area! Welcome to 1 Topridge Dr...Welcome 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.
