Ofallon Schools, New roof, siding & shutters, Solar electric, Tons of storage, on 1 acre of ground about 15 minutes to SAFB, Hospitals and I-64 access. This fabulous family home offers 4 bedrooms (all generously sized with lighted closets), 4 baths plus 26' x 28' 623 sq ft additional bonus space for endless possibilities. Enjoy the spacious main floor with an inviting open layout, a warm gas fireplace, and sliding doors that seamlessly connect the indoors and outdoor living. An expansive, composite deck overlooks pool area perfect for entertaining or relaxing. Designed for both cooking and entertaining, this custom kitchen showcases beautiful oak cabinetry with tons of storage, durable quartz countertops, an inviting island with seating, and modern stainless steel appliances. Completing the main level are a master bedroom with ensuite, a second bedroom, and a full bathroom. The lower-level family room offers ample space for gatherings, an entertainment center for cozy movie nights, and sliding glass doors that lead directly to the patio. Bedrooms #3 and #4 plus a multi-purpose room (could be office, non-compliant 5th bedroom, gym or whatever suites your needs), a full bathroom & laundry room complete the lower level. The expansive bonus space off the garage features a private entrance, a fully equipped kitchen, and a half bath, perfect for a home office, guest suite, or entertainment area. For families with multiple cars or passionate car enthusiasts, these garages are a true dream, featuring tandem spaces with ample room for up to six vehicles, a boat or camper. The beautifully landscaped yard has mature trees and a comprehensive in-ground sprinkler system plus a 12 x 19 shed providing additional storage. The property comes with fully paid solar panels, delivering significant cost savings on electricity. Typical monthly electric bills are approximately $17. There's a propane tank to fill as needed. Generator Included to ensure your comfort and peace of mind. HVAC 2015. Above ground pool is saltwater and comes with equipment.
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.
