Welcome home to 1005 Joel Lane, where comfort, style, and generous living space come together beautifully. Nestled in the desirable Oak Creek Estates of Genoa, this meticulously maintained home offers 3 bedrooms on the main level, an additional bedroom in the fully finished basement, and 3 full bathrooms-ideal for families, guests, and effortless entertaining. From the moment you step inside, you'll be greeted by an open, light-filled floor plan that feels both welcoming and functional. Sunlight pours into the spacious living areas, highlighting the seamless flow between the living room, dining area, and kitchen. The kitchen is thoughtfully designed with ample cabinetry, generous counter space, and a layout perfect for everyday living or hosting special gatherings. The fully finished basement is truly a standout feature. Designed for both relaxation and fun, it includes a wet bar, a large recreation room, a full bathroom with a jetted tub, and a private bedroom. Whether you dream of a home theater, game room, fitness space, or a comfortable guest suite, this versatile lower level can accommodate it all. A tankless water heater adds modern convenience, ensuring endless hot water. Step outside and enjoy your own private backyard retreat. Professionally landscaped and fully fenced, the outdoor space is perfect for summer BBQs, playtime, or simply unwinding in peace. Located just minutes from local schools, parks, shopping, and dining, this home offers the charm of small-town living with easy access to nearby communities. Special opportunity for veterans: This home features an assumable VA loan with an exceptional 3.875 interest rate for qualified buyers-a rare and valuable advantage in today's market. Don't miss your chance to own this exceptional home-schedule your showing today!
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.
