Welcome to this beautifully updated ranch located in sought-after Sunset Hills and the Lindbergh School District. Situated on nearly a half-acre lot, this 3-bedroom, 2 & 1/2-bath home offers approximately 3,600 sq. ft. of living space, featuring a huge main-floor addition and an expansive finished lower level—ideal for extended family living. The main level showcases a gourmet kitchen with granite countertops, custom cabinetry, stainless steel appliances, gas range, and a large breakfast bar, all open to the family room and dining area overlooking the spacious, flat backyard. The impressive lower-level addition includes a second full kitchen with its own private entrance, extended windows providing abundant natural light, walk-out access to the patio, a dining area, full bath, bedroom, large finished open area, and a family room with a wood-burning fireplace. Additional updates include updated windows, six-panel interior doors and hardware, dual high-efficiency furnaces, dual AC units, energy-efficient front entry door, post light with matching garage lights, plantation shutters, privacy shades, some new flooring, newer carpet, and professional paint completed within the last few years. Exterior highlights include a large covered wood deck, curved concrete patio, newer sidewalks and steps at the front and side of the home, a newer roof (2020), and two large bay windows. From spring through fall, enjoy a beautifully manicured lawn with mature landscaping, prized flowers, and six new trees planted in 2022. Relax with your morning coffee or unwind in the evenings on the deck while enjoying time with family and friends. Conveniently located just minutes from Highway 55 and 270 and close to hospitals, shopping, and restaurants. Sellers are offering an extended home warranty for added peace of mind. Buyers to verify me. 'rements and school information. This home is move-in ready and waiting for your family to enjoy.
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.
