Welcome to 11 Burkett Street – Your Spacious, Stone Ranch Retreat Nestled on a picturesque 4.2-acre estate, this expansive stone ranch home was built in 1962 and spans over 2,500 square feet on the main level, with an additional 2,500+ square feet of finished living area in the walk-out basement, creating more than 5000 square feet of versatile, climate-controlled space . Key Features: 4 Bedrooms on the main level, each with generous walk-in closets 2?Full bathrooms upstairs, and a convenient half bathroom downstairs New roof October 2024 Updated electric 2024 Ample storage throughout: linen closets, foyer coat closet, dining-room storage, walk in pantry, and laundry room cabinetry Cozy Living & Entertaining Spaces: Main floor features two beautiful stone fireplaces, with an additional fireplace in the basement Formal dining room seamlessly connects to a welcoming living area and kitchen —ideal for hosting and daily comfort Outdoor Paradise: The property offers a fully usable, mostly level backyard for play sets, trampolines, garden spaces, or relaxation Natural serenity includes a creek along the property line, a natural spring, shaded areas under mature hardwood and cedar trees, and peach trees for seasonal enjoyment Bonus: a 1,500?sq?ft detached garage/carport—room for four cars plus a spacious workshop Endless Potential Downstairs: The full walk-out basement adds versatility—perfect as a home office, extra bedrooms, entertainment room, or “man cave”—with ample space and its own half bath . House Highlights at a Glance Feature Detail Style Single-story stone ranch Living Space ~2,500?sq?ft on main + ~2,500?sq?ft in basement Bedrooms 4 on main level Bathrooms 2 full (upstairs) + 1 half (downstairs) Fireplaces 2 on main floor, 1 in basement Storage Walk-in closets in every bedroom, pantry, foyer & laundry storage Outdoor Features Creek, spring, woods, peach trees, large level backyard Garage/Workshop 1,500?sq?ft detached garage/carport Lot Size ~4.2 wooded and open acres This home blends classic craftsmanship with outdoor living for today’s lifestyle. Whether you envision cozy evenings by the fireplace, weekend gatherings playing horseshoes, or your own private retreat in the lower level, this home provides unmatched flexibility and charm.
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.
