Exceptional opportunity in the highly sought-after Embrey Mill community featuring a fully finished basement completed in 2023, upgraded staircase, fully fenced backyard, and extensive 2023 upgrades throughout offering the perfect blend of style, comfort, and functionality. Filled with natural light from expansive windows, this beautifully designed home welcomes you with a bright, airy ambiance and an open-concept layout ideal for both everyday living and entertaining. Rich wood flooring, recessed lighting, and refined finishes create a warm yet sophisticated feel throughout the main level. At the heart of the home, the gourmet kitchen combines elegance and practicality with stainless steel appliances, a built-in microwave, dishwasher, electric range, generous cabinetry, and ample prep space perfect for casual meals or hosting family and friends. The upgraded staircase serves as a striking architectural feature while enhancing the home’s seamless flow. Upstairs, spacious bedrooms offer comfort and privacy, complete with walk-in closets and abundant storage. The thoughtfully designed lower level expands the home’s versatility with a fully finished ensuite basement featuring a large living and entertainment area, two additional rooms, and flexible space ideal for guests, multigenerational living, a home office, gym, or media retreat. It also includes a newly updated bathroom and versatile ensuite living space. Step outside to enjoy the oversized, fully fenced backyard offering privacy and plenty of space to relax, entertain, or play. The well-maintained exterior, lush lawn, and sprinkler system further enhance the home’s curb appeal and convenience. Living in Embrey Mill means enjoying exceptional community amenities including pools, basketball courts, playgrounds, scenic walking trails, picnic areas, and a dog park all designed to foster connection and an active lifestyle. Complete with an attached two-car garage and inside access, this home truly offers the best of modern living in one of Stafford’s premier communities.
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.
