Stepping onto T Bury Lane feels a little like exhaling after a long day, where a classic brick exterior and that well-loved magnolia out front greet you with the kind of quiet confidence only a mature tree can pull off. Inside, the arched wooden front door opens to a foyer that draws you toward the heart of the home, and before you know it you’re standing in a living room warmed by a stone fireplace that seems ready for slow mornings, late-night conversations, and everything in between. The open layout carries easily into the kitchen with its generous granite counter space, center island, and comfortable flow into the dining area, where tall windows frame the backyard and pull in soft natural light from every direction. The layout moves with a sense of ease, placing the private bedroom wing toward the back of the home where the spacious main bedroom offers direct access to the covered patio along with a bath that includes a soaking tub, separate shower, and dual vanities. Three additional bedrooms sit nearby, giving you options for guests, hobbies, or a quiet office. A small built-in workspace tucked off the hall adds a practical touch that suits everyday life. Out back, the covered patio stretches out like an invitation to linger, with room for seating, a fan overhead, and a clear view of the wide backyard that has been the setting for plenty of good memories. The extended concrete pad offers space for projects or play, and the storage shed helps keep everything neatly tucked away. The neighborhood sits close to everyday conveniences while still offering a sense of space that feels unhurried. This home has been cared for with heart, lived in with joy, and is ready for its next chapter with someone who’ll appreciate its comfort and the easy rhythm it brings to daily life.
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.
