Stop By Open House 6/27 11am-1pm! Assumable Fixed 2.875% Interest Rate! Approximate monthly payment of only $2,690 (PITI). ~ Stunning Craftsman-inspired brick and stucco exterior welcomes you with an inviting covered front porch, mature trees, professional landscaping, and an extended driveway offering ample parking for multiple vehicles. ~ Step inside to a dramatic two-story foyer featuring an 8-foot custom leaded glass front door and rich wood-look tile flooring. First floor private guest suite with a full bath is thoughtfully separated from the main living areas, while a spacious home office provides the perfect work-from-home space. ~ Just inside from the garage, you'll find a functional mudroom and oversized utility room with upper cabinetry. The versatile layout offers plenty of space for a freezer, folding station, or additional organizational storage. ~ The heart of the home is the stunning chef-inspired kitchen featuring a massive 9' x 5' granite island with abundant seating and prep space, a sleek undermount sink with filtered water, and custom cabinetry extending to the ceiling with crown molding and elegant hardware. Additional highlights include a decorative vent hood, 5-burner gas range, designer tile backsplash with herringbone and mosaic accents, and a spacious walk-in pantry. The open-concept design keeps the cook connected to family and guests. ~ The family room is filled with natural light from a dramatic wall of windows and transom windows above. An elegant gas fireplace with mantle serves as the focal point of the space. The adjoining dining area offers ample room for everyday meals and larger gatherings while providing easy access to the covered patio. ~ The private first-level primary retreat offers generous space for oversized furniture and features large windows overlooking the backyard. The spa-inspired bath includes a dual-sink granite vanity, framed mirrors, upgraded lighting, abundant cabinet storage, an oversized soaking tub, and a separate walk-in shower with designer tile surround and sleek glass enclosure. The impressive walk-in closet features multiple hanging areas, built-in shelving, and exceptional storage. ~ An elegant staircase with rich wood-stained handrails and decorative wrought-iron balusters creates a striking focal point while overlooking the dramatic two-story living spaces below. Upstairs, a generously sized game room provides flexible space for a second living area, fitness room, playroom, or additional office. Spacious secondary bedrooms offer ample closet space. The upstairs bath is beautifully appointed with a granite-topped dual-sink vanity, framed mirror, upgraded lighting, oil-rubbed bronze fixtures, and a floor-to-ceiling tiled tub/shower surround accented by a decorative mosaic band. ~ The expansive walk-out attic provides outstanding storage and easy access to the HVAC system for convenient maintenance. ~ Step outside to a spacious covered patio designed for year-round enjoyment. Complete with dual ceiling fans and recessed lighting, this outdoor living area is perfect for morning coffee or weekend barbecues while overlooking the private backyard with mature trees and a sprinkler system. ~ Additional features include a radiant barrier roof, water softener, smart thermostat, smart lighting, doorbell camera, and two exterior security cameras. ~ Conveniently located just 0.5 miles from one of two neighborhood amenity centers featuring a pool, splash pad, and playground.
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.
