Your search for the perfect blend of comfort and convenience ends right here with this 3 bedroom, 2 bathroom ranch home. Imagine a lifestyle where weekend mornings are spent on the water at nearby Geist Reservoir or hitting the links at Old Oakland Golf Club, and evenings are reserved for gathering around your own backyard fire pit. This ranch isn't just a house; it's the backdrop for your future memories. From the moment you step through the door, you are greeted by undeniable charm. Beautiful board and batten detailing in the foyer, 9 foot ceilings throughout, and warm laminate flooring sets a tone of cozy comfort. Tucked quietly at the front are two bedrooms and a full bath-a layout that is absolutely perfect for guests, family, or a quiet, sunlit home office. As you move inward, the home opens up into an open living space designed for connection. Picture crisp evenings curled up by the glowing gas fireplace, flanked by custom built-in shelving. The living room flows seamlessly into a dining area and updated kitchen with granite countertops, stainless steel appliances, and a breakfast bar. The dining area opens directly to your fenced-in backyard, complete with a classic brick patio and fire pit, making indoor-outdoor entertaining effortless. When it's time to unwind, retreat to your private primary suite, thoughtfully secluded at the back of the home away from the hustle and bustle. Elegant French doors lead into an en-suite bath with dual sinks and a generous walk-in closet. But the real hidden treasure? A centrally located laundry room just off the garage, which features a full staircase leading to a massive attic space, unique to this home, and an absolute game-changer for all your storage needs! Homes that offer effortless single-level living and a premier location near local dining favorites are exceptionally rare. Schedule your private showing today before someone else is sitting around your fire pit! Photos virtually staged.
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.
