Horse lovers’ paradise! Bring your horses!! This gorgeous equestrian property boasts over 16 acres of land, a less than 5 year old 2100 sq ft six stall barn, approximately 5000 linear ft of new pasture fence with 3 separate pastures, and a separate 1800+ sq ft shop for your Hay, Tractor, Toys, Etc., You’re all set! You’re “Ranch House” comes with more than 3900 heated square feet of finished space, great for relaxing or entertaining and a 22 kw whole house propane fueled generator in the event of a power outage! This beautiful home boasts 4 (possibly 5) bedrooms and 2 1/2 baths with Master on the Main and a home office with symmetrical fiber optic. The Master suite is large with a coffered ceiling, gas log fireplace and a magnificent master bathroom. It truly is a must-see! The Chef's Kitchen, has a walk-in pantry separate laundry room that also has easy access via an additional entry from the garage. From the Kitchen/ Dining/Living area, is a door that opens to a small fenced backyard area for small kids or pets and there is a nice secluded screened in patio area for those nice outdoor mornings/evenings. The garage is over-sized and has the 4th bedroom (Bonus room) located above, accessed from the Kitchen. This bedroom/bonus room is very large, with a living area, as well as a sleeping area and closet, and includes a/c mini-split for added comfort. In the basement you will find two bedrooms with a Jack and Jill bath, a workout/craft/possible 5th bed room with closet. There is also a storage room, utility closet, concrete safe room/storm shelter and a nice sized recreation room. The living room, dining room and kitchen share a beautiful stone wood burning fireplace, vaulted ceilings with exposed beams and plenty of windows. The extra care taken in constructing this beautiful home is extensive. The exterior walls are 2x6 studs with spray foam insulation, dual fuel heating system, mini split in the fourth bedroom/bonus room, 22kw generator with automatic transfer, instant hot water, pot filler in the kitchen, and the stove has a gas cooktop with electric oven. Plus, energy efficient windows, upgraded trim and more. The details are just too many to name. The 50x40 horse barn has a 12x24 tack room and 6 stalls. There is also a Round Pen right outside of the barn. The lower shop/barn is 48x38 with three automatic garage doors and a fourth roll up door, as well as a walk-in entry door. The shop has a 50 amp hook-up for camper/5th wheel, spray foam insulation, gas heat, water, and more than 1800 square feet of useable space. There is also a small branch on the Western border of the property. Schedule an appointment today and come see for yourself, just how magnificent this property really is!
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.
