This wonderful 4 BR / 3.5 bath, two-story home with finished basement is in popular Washington Trace with Centerville schools. You’ll admire the beautiful hardwood floors in the entry and plush carpeting in the bonus room to the left (can be used as a living rm, office, or playroom) and the formal DR on the right. The kitchen boasts a gourmet island with an area for seating, tile backsplash, new quartz countertops / sink, ss appliances (includes gas stove, microwave, dishwasher, garbage disposal, and refrigerator), pantry, and taller staggered cabinets with pulls. You'll love entertaining with this open floor plan between the kitchen, large morning room, and family room with gas fireplace. The first floor also has an office, half bath with pedestal sink and coat closet. Spacious primary bedroom has a walk-in closet with organizers/drawers, and en suite bathroom with dual sinks, separate shower and jetted tub. Second level features a laundry room with shelving (includes the washer / dryer), hall full bath with double sinks, and three additional ample sized bedrooms with ceiling fans. The basement has so much to offer: a huge rec room area with wiring for a projector, LVP flooring throughout, recessed lights, two storage areas, and a full bath. The house has 2 inch white blinds, curtain rods, ceiling fans throughout, security system with video doorbell, water softener, updated garage door opener, 200 amp service, radon mitigation system and gas furnace / water heater. Everything has been done: professional landscaping / house cleaning / carpet cleaning, re-stained banister/handrail, touched up neutral paint colors, updated lighting fixtures, and refinished hardwood floors. The exterior includes: portico over the entry, invisible fence, composite deck, freshly mulched beds, and privacy landscaping, The HOA fee includes a pool, clubhouse, and exercise area. Great location: close to I-675 / I-75, Austin Landing / Dayton Mall for shopping, restaurants and entertainment.
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.
