This stunning Brentwood home is located on a quiet cul-de-sac on a .99-acre lot in a beautiful private setting in the Lansdowne neighborhood. The owner’s private suite boasts an attached office/sitting room and dual large walk-in closets. The primary bath features a large soaking tub, separate vanities & oversized shower. Sitting room & dining are located off either side of the foyer. Head to the living room w/soaring ceiling, built-ins & a FP w/gas logs. The over-sized deck is located off the living room. The kitchen features hardwood cabinetry, pantry, convection oven, microwave, dishwasher & a large nook overlooking the parklike setting of the backyard. The floorplan includes a main floor family room which serves as a bonus space w/plenty of space for entertaining. Laundry room located on the first floor. The upper level of the home has a walk-in storage area measuring over 850SF insulated w/spray foam. This area could be finished for additional living space. 3 BRS are featured on this upper level w/one ensuite bath & one jack-and-jill bath. This level features access to the upper floor of the double front porch. The finished walkout basement hosts a full kitchen & pantry, breakfast area, living room, mudroom, one full bath & a half bath, 2nd laundry room, bedroom, flex room, bonus room & storage room. A covered patio compliments this functional living space. The basement is accessed by 2 separate staircases from upstairs and can be entered from a door off the garage which allows for privacy & multi-generational living. The basement storage room is over 250 sq ft & would make a wonderful wine cellar or safe room. There's plenty of parking w/a 3-car garage & extended parking pad. The home includes many options for additional space w/out adding to the structure. Lots of updates--expanded driveway, spray foam insulation, updated lighting, designer paint & much more. The neighborhood also includes a club house, pool, kids pool, tennis and pickle ball courts!
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.
