RARE OPPORTUNITY! Qualified buyers may assume the seller's existing mortgage at approximately 2.25%—an incredible advantage in today's interest rate environment. Welcome to this exceptional Colonial in the highly sought-after Spring Haven Woods subdivision! Nestled on a private .76-acre lot backing to mature trees, this beautifully maintained 4-bedroom home offers over 2,600 square feet above grade and an incredible combination of luxury, comfort, storage, and entertaining space. The stunning, fully renovated kitchen (2018) is truly the heart of the home, featuring rich cherry cabinetry, granite countertops, stainless steel Samsung appliances, abundant cabinetry, generous prep space, and storage at every turn. Throughout the home you'll find thoughtful upgrades, exceptional built-ins, and an impressive amount of storage rarely found in homes of this size. The finished lower level was designed for entertaining, complete with custom built-in cabinetry, an incredible bar, and a temperature-controlled wine cellar maintained at approximately 65 degrees—perfect for displaying and preserving your collection while hosting family and friends. Major updates provide peace of mind, including a 2021 roof with a transferable 50-year warranty (transferable within the first 20 years) and a 2019 upstairs HVAC system. Step outside to your own private backyard retreat featuring a breathtaking Anthony & Sylvan heated in-ground pool and spa, approximately 10 feet deep and valued at over $120,000, backed by a lifetime warranty. Additional pool improvements include a new heater (2022) along with a pool pump and filter (2017). Surrounded by mature trees, the expansive backyard offers exceptional privacy and the perfect setting for entertaining, relaxing, or enjoying your own personal resort. From the beautifully updated interior to the incredible outdoor living spaces, premium upgrades, abundant storage, and rare assumable financing opportunity, this is a home that truly stands apart. Don't miss your opportunity to own one of Spring Haven Woods' most exceptional properties.
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.
