Amazing location makes home a must see for any Buyers. Excellent access on foot, within a few minutes, sometimes less than one minute, to Sports Courts, Pool, and other amenities. For your convenience, just stroll out the lockable gate at the rear yard fence. Immediate access to trails, amenities, and outdoor activities. Rear yard gate provides quick and very convenient 30 second walk to the trail or another minute you can cross the street for the various Sports courts and other benefits. Out the front door, you can cross the street to Kreuger Elementary School, in about the same short time, providing the ultimate safety and convenience for you and your children. Huge living areas could be portioned to different uses if desired. Modern floor plan leads to open kitchen which features an island and space for flexible layout. Primary bedroom with elegant bathroom including dual-sink vanity, separate shower, and huge closet. Continuing out past the kitchen is a bonus room currently serving as a utility room, tiled floor, and ceiling fan, ready for an A/C unit, and securely enclosed. This is a Bonus Room, not included in the square footage. The lengthy back yard has its own features: Mature Fig tree appears to produce a lot of fruit. Concrete Fire pit, Dog run, and more. Most of all: Privacy! The yard is quite private. Ceiling fans in most rooms. Step out to the backyard, covered patio with ceiling fan for comfortable lounging or playing in the "just right" sized yard, along with the Privacy of not having rear neighbors. You'll want to move fast on this well-maintained home. Arrange for a showing today, and make an offer for this beauty.
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.
