CAN YOU SAY ASSUMABLE MORTGAGE WITH A 2.25% INTEREST RATE??? One of the most attractive features of this property —a significant advantage that could result in substantial savings compared to today's interest rates. Discover the perfect blend of space, flexibility, and affordability that awaits you with this beautifully maintained home with mother-in-law retreat and NO HOA! Offering 3,146 square feet of total living space with 6 bedrooms and 4 bathrooms, this unique property was thoughtfully expanded to accommodate and care for an elderly family member, creating an ideal setup for multigenerational living or extended family needs. The addition, completed in 2016, was designed with accessibility and comfort in mind, featuring handicap-accessible accommodations that make daily living easier for residents of all abilities. Whether you're caring for aging parents, welcoming extended family, or simply seeking a home with versatile living arrangements, this property provides a rare opportunity to do so with ease and independence. Inside, you'll notice a beautifully remodeled kitchen with new LG black stainless steel appliances, the freshly painted interior offers a bright and welcoming atmosphere, while an updated guest bathroom provides a charming cast-iron tub that adds a touch of timeless character, where you can soak all your troubles away. Major system updates include two A/C units replaced in 2021 and 2024, providing efficiency and peace of mind for years to come. The home's oversized septic system supports the property's expanded living capacity. Situated on a generous lot, the outdoor space offers endless possibilities for gardening, entertaining, recreation, or future enhancements. With six bedrooms already in place, there is plenty of room for large families, home offices, hobby spaces, or guest accommodations. Conveniently located near shopping, schools, restaurants, and parks, this home combines practical functionality with exceptional value. Whether you're seeking a home designed for multigenerational living, a property with room to grow, or an opportunity to take advantage of a low-rate assumable mortgage, this unique opportunity deserves a closer look. Schedule your private showing today and explore the possibilities this versatile Mulberry home has to offer.
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.
