If you’re tired of the "cookie-cutter" houses built out of cardboard and hope, welcome to a home that actually has some soul. This custom-built beast sits on over 5 wooded acres of pure Amelia freedom, we’re talking A-5 zoning, no HOA to tell you what color your mailbox has to be, and "fence-out" status for those of you looking to bring the livestock and live the homestead dream. Inside, we just dropped a massive $180,000 renovation on the kitchen and family room that’ll make your jaw hit the new flooring. We’re talking granite countertops that could double as a landing strip, brand-new appliances, and a layout designed for the person who actually likes to cook and entertain at the same time. The bones here are legendary: solid wood doors, oak hardwoods on both levels, and trim work that actually required a craftsman, not just a nail gun. But let’s talk about the stuff that keeps you from waking up stressed in the middle of the night. The roof was replaced just a couple of months ago. The main HVAC is basically brand new. There’s a whole-house generator that’s been pampered with annual service, a fresh well pump, and a water softener system already dialed in. You even get a massive walk-up attic and an oversized garage with a workbench ready for whatever project you’ve been putting off. This is that rare listing where you get the character of a custom build with the luxury of a $200k modern facelift. It’s move-in ready, private as a fortress, and ready for its next chapter. Don't wait on this one—homes with this much infrastructure and acreage don't just sit around.
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.
