Built in 2019, this single story 4 bedroom, 3.5 bath home offers nearly 3,000 square feet, a heated and chilled saltwater pool, a three car garage with EV charging capability, a whole home Generac natural gas generator, smart home features, and a split bedroom floorplan. Thoughtfully designed with comfort, functionality, and everyday living in mind. Double front doors open into a spacious foyer and large living room with built-ins, views of the pool and backyard, and an open layout connecting the living, kitchen, and dining areas. A flexible front room can serve as an office, dining room, playroom, or additional living space. A convenient half bath is located nearby for guests. The kitchen features an oversized 8x4 island with seating, a gas cooktop, abundant cabinet space, smart appliances, a pantry, and an eat-in area. The primary suite is privately positioned on one side of the home and includes a large bedroom, soaking tub, walk-in shower, extra long double vanity with a seated makeup vanity, water closet, linen storage, and a walk-in closet with built-in safe. This side of the home also includes a mudroom with access to the oversized side entry attached two car garage and a laundry room with cabinets, a sink, and access to the additional attached one car garage. The opposite side of the home features three additional bedrooms, each with a walk-in closet. One bedroom has a private ensuite bath, while the other two share a Jack and Jill bathroom. Outside, the 27x13 covered patio overlooks the 15x30 gunite saltwater pool with sun shelf, heater, chiller, safety fence, pool cover, and plenty of deck space for relaxing or entertaining. Pool equipment, irrigation, and several home features can be controlled from your phone. The home also includes a tankless gas water heater and an expanded driveway providing additional parking.
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.
