Retreat Lifestyle Awaits! If you are looking for privacy, luxury, and a full display of nature, look no further! Relax on your screened-in porch overlooking our own pond, gardens, creek, green grass, with the trees as the backdrop. This property checks all the boxes. Enjoy the pitch-perfect bullfrogs and peepers perform natures orchestra every summer evening. Create memories from sunup to sundown on the massive back porch, where all can comfortably gather. All aspects of the property are incredibly well planned, both inside and out. This classic Cape Cod offers true one-floor living. The main floor features an open-concept plan that is perfect for daily communication and entertainment. Life is easy and organized, as you transition between the house and the garage through the large mudroom/laundry/pantry space. The gourmet kitchen, with a massive granite island, serves as a natural gathering spot and offers endless counter space for meal prep. The timeless kitchen design with pull-out drawers, a big farm sink, beautiful cabinets/hardware, and backsplash makes spending time in the kitchen delightful. The great room features a cozy pellet-burning stove, a large window surrounded by built-in bookshelves, stunning hardwood floors, wrought iron, and stone finishes that define this timeless Craftsman-style home. The owners' ensuite is well-appointed with direct access to the back porch. The second floor offers skylights, a full compartmentalized bath, an office, and walk-in storage. The lower-level walk-out basement offers a massive flex space, currently used as a well-appointed home gym, equipped with a sauna and rough-in for a future bath. Be creative with a huge room that is currently a step up as a woodworker's dream! If woodworking is your thing or perhaps a future hobby, look no further! Equipment is negotiable. Bring on the projects with large workbenches and ample tool storage. This property offers a lifestyle that is hard to beat and is a rare find.
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.
