Why Be ATTACHED when this special SINGLE FAMILY home is available? HOW ABOUT LAKE-SIDE LIVING, nestled adjacent to COMMON AREA? Charming Pinehurst community, this delightful Dutch-style Colonial home offers a perfect blend of comfort and modern living. With 1,618 sq. ft. of thoughtfully designed space, on three levels, the interior features gleaming hardwood floors throughout most of the main level, newer cozy carpeting (just 2 years old) on the upper bedroom level, and lovely solid surface planking in the finished basement level with walk-out. The inviting main level family room, complete with a wood-burning fireplace, seamlessly connects to the dining area, creating an ideal setting for gatherings. The well-appointed kitchen boasts abundant cabinetry, solid surface counters and newer stainless steel appliance appliances, including a built-in microwave, refrigerator, dishwasher, and electric range. The serene views of Lake Anita Louise are just steps away and are visible from the front porch and rear deck. The property adjoins open common areas and lush trees, providing a peaceful retreat. Lake LInganore offers an array of amenities, including multiple outdoor pools, two sandy beaches on Lake Linganore, tennis courts, and scenic walking paths, perfect for leisurely strolls or active weekends. With convenient access to local top tier schools (Oakdale and Deer Crossing Elementary) and the New Oakdale Town Center, with full service grocery store, this home is perfectly situated for both convenience, relaxation and recreation. Enjoy the benefits of community living while having the tranquility of nature at your doorstep. This property is not just a house; it's a place to create lasting memories. Important updates to note and appreciate: new HVAC (heat-pump w/ central air and air scrubber-whole house air purification system) is less than two years old, water heater is also newer, Kitchen includes new microwave and garbage disposal, and new updated lighting too. The roof was replaced in 2022, and the entire interior home was repainted less than 2 years ago as well. Stay tuned for drone pics and professional pictures too! Open house is scheduled for Sunday, March 1, 1-3 PM. Showings start Wednesday, February 18, with pictures posted on Thursday, February 19.
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.
