Check out this beautiful 3,269 sq ft Bloomfield home built in 2019, featuring 5 bedrooms, 3.5 baths, a private office, two spacious living areas, a 3-car garage, and a stunning pool on a corner lot in coveted Garden Valley Farms with NO HOA. From the moment you arrive, you'll appreciate the meticulous landscaping, permanent year-around exterior lighting added for holidays and curb appeal, charming front patio, and inviting exterior. Step inside to a welcoming entry with built-in coat storage and shelving, a fresh grey and white color palette, abundant natural light, and beautiful hand-scraped wood floors throughout the main living areas. Just off the entry is a spacious office, perfect for working from home or daily tasks. The open-concept living area features soaring ceilings and a cozy wood-burning fireplace. The kitchen offers a large granite island, granite countertops, grey cabinetry, stainless steel appliances, abundant storage, and an open dining area that flows into the living room. Upstairs includes a large second living area ideal for game room, media, or study space. The spacious primary suite includes a sitting area, oversized walk-in shower, standalone soaking tub, and large walk-in closet. Two secondary bedrooms share a Jack-and-Jill bath and feature walk-in closets, with additional bedrooms offering ample space. The laundry room includes grey tile backsplash, farmhouse shelving, and storage. Step outside to a private backyard retreat with extended covered patio, decorative lighting, stone patio, and resort-style pool with tanning ledge. Backing to peaceful green space, the backyard offers added privacy and a serene setting. Yard includes storage shed, small grassy area for pets, and RV driveway with hookups. The oversized 3-car garage provides space for vehicles, storage, or gym use and includes insulated doors. Community park and splash pad nearby. Welcome home!!
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.
