Beautifully Remodeled Historic Home on a Large Corner Lot This stunning historic home is perfectly positioned on a large corner lot, thoughtfully set back with mature trees creating a picturesque and private backdrop. Timeless full-brick architecture welcomes you, highlighted by a classic wrap-around covered front porch—ideal for relaxing and entertaining. Step inside the grand entrance, spacious enough to serve as a sitting room, and immediately appreciate the beautiful wood floors, custom crown molding, and chair rails throughout. At the front of the home are two generously sized rooms, perfect for a living room, playroom, or home office. One room features a private side entrance to the driveway, making it ideal for a professional office with separate client access. Each room showcases wood floors, fireplaces, and an abundance of upgraded details. The updated chef’s kitchen is designed to impress, featuring a large island, abundant cabinetry, and wood flooring. A true showstopper, the enormous pantry offers a full wall of custom built-ins. The kitchen flows seamlessly into the elegant dining room, complete with a fireplace for added charm. The main level also offers a bedroom with access to a full bathroom—ideal as a main-floor primary suite, guest room, or additional office. A nearby flex space could easily be converted into a spacious walk-in closet or expanded business space. Upstairs, you’ll find four large bedrooms, two full bathrooms, and an additional bonus room perfect for hobbies, an office, playroom, or oversized closet. Two bedrooms feature custom built-ins, and all second-floor rooms boast beautiful wood floors. The backyard is a true private oasis, beginning with a covered back porch and walkway that connects multiple outdoor and functional spaces. A covered carport transitions into a covered backyard patio with a barn door leading to extra storage or a potential bar or entertainment area. The covered walkway also leads to nearly 500 sq ft of space, offering endless possibilities such as a game room, office, studio, or additional entertaining area. Surrounded by mature trees for privacy, the backyard also includes a detached one-car garage for storage or future conversion. Parking is abundant with a circular driveway and additional parking spaces. Additional features include a 100-year roof, extensive storage options, and unmatched flexibility for residential living, entertaining, or home-based business use.
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.
