YOU HAVE A 2ND CHANCE! HOME IS BACK ON THE MARKET! (NO FAULT OF SELLER) - Beautiful 5 Bedroom, 3 Bath Atrium Ranch on a Cul-De-Sac, Beautifully Landscaped with mature Japanese Maple for Great Curb Appeal. From the Moment you walk into this Well Cared for Home you will be impressed! The Great Room is perfect for Entertaining with Access to Living, Dining and Kitchen and Deck with Custom Pergola with Sunshade. The Entry with Large Storage/ Coat Closet, Dining Room with Architectural Column and Living Room with Gas Log Fireplace and Hallway all have Beautiful Hardwood Floors. Kitchen Features Slate Floors and Stainless-Steel Appliances that include a Microwave/Convection Oven located above the Smooth Top Electric Double Oven, and Dishwasher. There is also a Nice Size Pantry and Slider to the Deck. The Main Floor Laundry is Nicely Appointed with Cabinets for Storage, Hanging Rods and Folding Area. The Primary Bedroom and Bath will be the Owners Retreat with its Large Walk in Closet and Bath with Ceramic Tile Floors, a Soaker Tub with Glass Block Window, Separate Walk in Shower, Double Sink Vanity and Linen Closet. Two Additional Nice Sized Bedrooms and Full Bath complete the First Floor. The home has nice lighting and window shades or blinds throughout and some curtain rods for ease of decorating. The Atrium Wall of Windows Allows for a Light Filled Lower Level with a Main Living Room with Ceramic Tile Floors and a Second Kitchen Area with Plenty of Cabinet and Counter Space, Full Sink with Disposal and Full-Size Dishwasher for the Perfect Party Space! Cabinet Opening for a Microwave or other small Appliance is there for you to fill. Two Large Bedrooms and Full Bath with Tub/Shower and Granite Topped Vanity that has its Own Linen Closet! Two Large Unfinished Rooms will allow for Plenty of Storage, and one has a Sump Pump and Pit! This Wonderful Space walks out to a Large Concrete and Block Landscaped Patio to allow for additional Outdoor Entertainment Space. (Currently there is a Hot Tub the Owner will be taking but does give you an idea of space available to possibly have your own. Come see the possibilities of this home becoming your own !
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.
