Welcome home to this spacious, move-in ready ranch situated on a large lot with no HOA-offering nearly 6,000 finished square feet and incredible flexibility for today's lifestyle needs. Whether you're looking for multigenerational living or the opportunity to generate rental income with a private basement apartment, this home delivers. Step onto the inviting front porch and into a welcoming foyer that opens to a thoughtfully designed main level. The family room features a stunning stacked stone fireplace, built-in bookcases, and a warm, comfortable feel perfect for everyday living or entertaining. Additional spaces include a separate living room and a dedicated office, ideal for working from home. The kitchen is well-appointed with abundant cabinetry, granite countertops, tile backsplash, stainless steel appliances, under-cabinet lighting, bar seating, and a bright eat-in area. The owner's suite on the main level offers convenience and comfort, complete with double vanities, a soaking tub, and a separate shower. Secondary bedrooms are generously sized. Upstairs, a huge bonus room with its own full bath provides endless possibilities-perfect for a second family room, recreation space, or private guest suite. The finished basement is a standout feature, offering a true in-law suite or income-producing opportunity with its own full kitchen, family room, bedrooms, bathrooms, and separate living space. With a second laundry room downstairs (in addition to the main-level laundry), this setup is ideal for extended family or tenants. Enjoy outdoor living on the back deck overlooking the expansive lot. Additional highlights include outbuildings for storage and extra covered parking along the extended driveway. Conveniently located near Hwy 20 and Hwy 78, with easy access to shopping, dining, parks, and schools-this home offers space, versatility, and value all in one.
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.
