Now offering $5,000 in seller concessions!!! USDA loan option! Experience peaceful country living in this beautiful 4 bed, 2 bath Riverside home on 2 acres of privacy, space, and versatility. A tranquil creek runs along the back of the property, enhancing the serene setting. Nestled at the end of a cul de sac and behind a private gated entry. One acre is fenced, while the adjoining corner lot adds extra seclusion, perfect for kids, pets, and outdoor fun. Inside, the open concept kitchen serves as the heart of the home with granite counters, a walk in pantry, and seamless flow into the dining & living areas. A second living area at the front of the home offers flexible use as a home office, formal dining, or additional living space. Spend evenings gathered around the outdoor fire pit, enjoying peaceful country nights under the stars. The extended driveway provides ample parking, including room for a boat or potential RV parking. A 12x24 storage building sits in the backyard, perfect for tools, hobbies, or extra storage. With no HOA and a location outside city limits, you have the freedom to build a shop, add a pool, store RVs or boats, or create the outdoor space of your dreams. A survey is available, and the home includes numerous updates new carpet, gutters, sod, water heater, kitchen cabinets, paint, and lighting (see full list in Transaction Desk). This listing combines two offerings for maximum flexibility: MLS 21066092 Home on 1 acre MLS 21066091 Vacant 1 acre corner lot. Don’t miss this rare opportunity to own a Riverside Homebuilders home with acreage, privacy, and endless possibilities in Springtown! Disclaimer: All property information is deemed reliable but not guaranteed. Buyers, tenants, and their representatives should independently verify all details, including but not limited to measurements, permitted uses, zoning, schools, utilities, taxes and any other information important to their decision-making.
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.
