Welcome to this stunning 2-story home offering over 4,300 sq. ft. of beautifully designed living space, where historic charm and thoughtful modern updates come together seamlessly. Approximately 25% of the original home dates back to 1909, while the majority of the home was expanded with substantial additions completed around 2000, creating the perfect blend of character and contemporary convenience. Rich hardwood floors flow throughout, creating a warm and inviting atmosphere from the moment you enter. The main-floor primary suite serves as a peaceful retreat, complete with direct access to your private backyard oasis featuring an in-ground pool on a fenced half-acre lot. Designed for both comfort and functionality, the home includes laundry rooms on both the main and upper levels for added convenience. Six walk-in closets — including two cedar-lined closets, His and Hers separate walk in closests — provide exceptional storage throughout. The spacious great room overlooks the pool and backyard, creating the perfect setting for entertaining or relaxing with family and friends. Enjoy quiet mornings on the covered porch or welcome guests with ease via the circular driveway. The rear-entry 4-car garage offers abundant parking along with additional workspace ideal for hobbies, projects, or extra storage. Blending timeless charm with modern conveniences, this exceptional property is ideally located within walking distance of Blevins Elementary School, Eureka High School, and downtown Eureka. Offering comfort, character, and an unbeatable location, this is a home you won’t want to miss. Seller is also providing a home warranty for added peace of mind!
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.
