Brick Ranch with 1176sf on the main level PLUS another 1176sf in the full walkout basement in the charming town of Louisa! Walk to restaurants and shopping! Main Level: Enjoy the convenience of true one-level living with an inviting layout designed for comfort and everyday ease. The updated kitchen is open to the dining area and offers a fresh, functional space for cooking and gathering. The family room is warm and welcoming, centered around a cozy gas-burning stove—perfect for relaxing evenings at home. Walk in shower in the updated bathroom. Step outside to a spacious carport that doubles as a covered entertaining area, ideal for cookouts, hosting friends, or simply sipping iced tea on the porch swing. The large fenced backyard, complete with two storage sheds, provides plenty of room for pets, play, and projects. Walk-Out Basement: The full walk-out basement is already heated and cooled, offering incredible flexibility and value. Whether you envision a rec room, additional bedrooms, home office, or guest suite, the space is ready to adapt to your needs. There’s also ample storage and room to easily add another bathroom, making it a smart option for future expansion or multi-generational living. A pellet stove as an additional heat source adds both comfort and efficiency, creating a cozy lower-level retreat. This home is also equipped with an automatic whole home generator! Location & Lifestyle: Take a short walk to charming downtown Louisa, where you’ll find local shops, restaurants, and community events that make this town so special. Spend your weekends just a short drive away at Lake Anna, enjoying boating, fishing, and time on the water. Louisa is also on the rise, with Amazon Web Services expanding major data center campuses nearby, bringing significant investment, job opportunities, and long-term growth to the area—making this not just a great place to live, but a smart place to invest. Live comfortably now, grow into the future, and enjoy everything Louisa has to offer.
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.
