Welcome to this beautifully maintained traditional home where modern comfort meets effortless elegance in sought after Sand Creek Woods. This two story residence offers a thoughtfully designed layout featuring three bedrooms and two and a half bathrooms across nearly eighteen hundred square feet. The main level is highlighted by durable hardwood flooring that flows through the heart of the home, connecting the formal dining room, kitchen, and casual eating areas. In the kitchen, a center island serves as a functional focal point, complemented by a suite of essential appliances including an electric oven, dishwasher, and microwave. The adjacent family room provides a cozy retreat with its gas starter wood burning fireplace and built in bookshelves, perfect for quiet evenings or hosting guests. For more formal occasions, the separate living room offers additional versatile space. The primary bedroom suite is a private sanctuary on the upper level, boasting vaulted ceilings, a spacious walk in closet, and a deluxe bathroom equipped with double sinks and a custom full shower stall. Two additional bedrooms and another full bath complete the upper floor, ensuring ample space for everyone. Practicality is found in the dedicated main level laundry room finished with ceramic tile. Step outside to the rear yard to find a serene outdoor living area featuring an open patio covered by a charming wooden pergola, all overlooking a lush green lawn and pond. The exterior of the home is a classic combination of brick and vinyl siding, accented by a welcoming covered front porch and a two car garage. Every detail of this property reflects a commitment to quality and comfort, from the neutral color palette and abundant natural light to the functional flow that makes daily life a pleasure. This home is ready to welcome its new owner.
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.
