Located in Pine Valley, a quaint and quiet neighborhood in Locust Grove, this lovely Penwell plan is less than two years old and better than new! The home boasts four bedrooms, two and a half baths, a flex room that can serve as a designated office or a formal dining room, and an inviting chef's kitchen that opens up to the spacious family room. Stainless appliances, oversized island and pantry, this kitchen has it all! And the floor plan is just perfect for intimate dining or for making memories with those nearest and dearest. (I can personally attest to this, because I've witnessed it first-hand!) This home has a beautiful spirit, filled with love, and the sellers really hate to leave it. It's just time for them to move into a ranch to adapt to aging in place. OH - we can't forget the spacious deck just off the kitchen, giving added outdoor space for grilling or chilling! And the community amenities include both tennis and swimming pool - everything you need for enjoying a beautiful home in a beautiful community! When time to retire, all bedrooms are on the upper level to afford greater privacy and leave the downstairs area strictly for relaxing and entertaining, or homework and hot dogs! The spacious master en suite also features a spa-like bath and generous closet. Three secondary bedrooms and laundry complete this classic design. And you will never be too far from home with Home Is Connected. Your new home is built with an industry leading suite of smart home products that keep you connected with the people and places you value most. Conveniently located near Tanger Outlets, shopping, grocery options, restaurants, downtown Locust Grove, and I-75. Give your family the gift of a beautiful home this holiday season! Comfortably priced, this home is definitely a "must see!"
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.
