Spacious 5-bedroom, 4-bath traditional colonial on 3 private acres with no HOA. With over 3,600 square feet of living space, this property offers room to spread out both inside and out. Recently refreshed with interior painting on the main floor and ready for the next owner to personalize finishing touches. Greet your visitors from the welcoming front porch and then usher them in. Once inside you will appreciate the high ceilings as you move through the main level. A dining room suitable for family gatherings and a living room with crown molding greet you at the front. Continue into the kitchen and great room where you will spend time gathering. Newer appliances, granite countertops and a walk in pantry serve the space well. Upper level holds a primary suite with a soaking tub and separate shower as well as 2 walk-in closets - no fighting over closet space. Two of the 3 secondary bedrooms have walk-in closets. The finished walk out basement holds another legal bedroom and full bathroom. The gem is the expansive grounds that offer something truly special: a private orchard with a variety of plantings including apple, peach, and plum trees, blackberry, blueberry, and raspberry bushes, and several types of specialty trees. It is a beautiful sight when everything is in bloom. In the middle of the backyard oasis is an above ground pool with a wraparound deck built around it. Enjoy the property's sight lines from the massive covered back porch. You will spend countless hours enjoying the peace and serenity of your outdoor sanctuary. Visit 10206 Talley Rd and find the place you were meant to call 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.
