COME SEE THIS 2-STORY HOME IN WESTRIDGE SITUATED ON A DESIRABLE 2-CORNER LOT WITH MATURE TREES, OFFERING PRIVACY AND A GREAT LOCATION! The home is right across the street from Westridge Elementary School ideal for families with young children. From the front TREX deck step inside to an open vaulted living room featuring nice hardwoods, a cozy wood-burning fireplace, two skylights and large picture window bringing in abundant light. Adjacent is the dining room leading to the eat-in kitchen fitted with Quartz counters. From here you have direct access to the back patio. There are two bedrooms on the main including the Primary with full bath. Washer/dryer hookups are available on the main floor. Heading upstairs, you'll find a loft/office nook with extended windows, bedroom with walk-in closet & ensuite 3/4 bath with Quartz vanity & balcony access. The fenced backyard is fully enclosed and features a garden area, enclosed hot tub (it's yours!), and shed. It's a perfect apace for furry friends to run. You also have is a sizable RV parking pad and extended south-facing driveway, oversized 2-car garage with workbench & storage. The full basement provides bonus space to use as desired, 3/4 bath & laundry area. The original owner has made many improvements over the years to include: Impact Resistant Class 4 roof 2024 with transferable warranty, Carrier AC 2021, new skylights 2024, double pane windows 2000, newer front deck w/ handrails 2023, custom 17' garage door, updated 200 amp sub panel 2021, Navien tankless water heater 2019, central vac system. You are conveniently located close to shopping, restaurants, minutes to Blue Heron Park with quick access to Kipling, Wadsworth & C-470. Note: the basement does have uneven/sloping floors; see MLS supplemental docs for proposal from Thrasher Foundation Repair.
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.
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