$5,000 Buyers anyway money -- Seller Says Let's Close Before the Ball Drops! Timing is everything--and if you've been waiting for the one, this is it. The seller is ready to turn the page, and this Lake Lorraine gem is now priced to move before the end of the year.This isn't just a price drop--it's your golden ticket to tropical backyard vibes and room for all your toys, tools, and dreams. The clock is ticking, but the opportunity.... is wide open! The natural light, the easy flow of the split floor plan, the cozy gas fireplace--everything here feels calm, warm, and thoughtfully cared for. The kitchen has that 'everyone gathers here' energy, with granite counters and room to linger over morning coffee or late-night snacks. But the real magic happens when you walk into the primary suite. It's tucked away for privacy and has French doors that open straight to the pool... and honestly, it feels a little like waking up at a resort. The renovated bath is a retreat all its own, and stepping outside to the sparkling water makes it impossible not to relax. And that backyard? It's a whole mood. Lush palms, a brand-new pool liner and pump (2024), and a screened patio that practically begs for slow mornings and long evenings. Whether you're grilling, floating, entertaining, or just breathing in that salty Gulf airthis space is all about enjoying life. Have a boat, RV, or extra toys/cars? You've got room for it all with a 40-ft concrete pad and 30-amp hookup. Need a creative spot for projects or a side hustle? The powered, air-conditioned 20' x 11' workshop is ready for whatever you dream up. Even better? A VA assumable mortgage at 3.75% for qualified buyers. Practical perks you'll love: " HVAC 2019 " Gas water heater 2019 " Roof 2011 " No HOA " Pool Pump 2024 " Privacy-fenced This isn't just a house. It's a lifestyle. A feeling. A fresh start.
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.
