Hidden in plain sight with so much more than meets the eye, this stunning custom built ranch home is a perfect blend of traditional charm and contemporary elegance. With a major renovation completed in 2020, this residence boasts an impressive array of features that cater to modern living while providing a warm, inviting atmosphere. As you approach the property, you'll be captivated by the extensive hardscape that surrounds the home, creating a beautiful outdoor oasis. The meticulously designed stone retaining walls, complemented by a tranquil waterfall and Koi pond, offer a peaceful retreat right in your backyard. Imagine hosting gatherings on the expansive deck and attached covered brick terrace or enjoying quiet evenings on the wrap-around porch, all while soaking in the breathtaking panoramic views of the fields and mountains that stretch as far as the eye can see. Step inside to discover a thoughtfully designed interior that harmonizes comfort and functionality. The spacious layout includes four generous bedrooms and two full bathrooms, ensuring ample space for relaxation and privacy. The heart of the home features a cozy wood-burning fireplace, perfect for creating a warm ambiance during chilly evenings. The kitchen is a chef's dream, equipped with energy-efficient appliances, including a built-in microwave, double oven, and a built-in range, making meal preparation a delight. The home continues on to offer additional living space and convenient access to the attached and detached garages, providing plenty of room for vehicles and storage. With a total of four garage spaces parking will never be an issue for you or your guests. The exterior of the home is equally impressive, featuring a large like new bank barn, a metal storage building, a dedicated play area with equipment, and beautifully landscaped grounds that enhance the overall appeal. The property sits on nearly an acre of land, providing a sense of privacy and space that is hard to find. This home is not just a place to live; it's a lifestyle. With its perfect blend of indoor and outdoor living, modern amenities, and stunning views, it's an opportunity that won't last long. Experience the tranquility and beauty of this exceptional property-your dream home awaits!
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.
