VA ASSUMABLE LOAN AVAILABLE AT 2.25 INTEREST - A RARE OPPORTUNITY IN TODAY'S MARKET. Qualified buyers may be able to assume the existing VA loan and secure a dramatically lower interest rate than current market rates, potentially saving hundreds per month on their mortgage payment. Welcome to 12014 Elijah Stapp, where thoughtful updates meet comfortable everyday living. This meticulously maintained home is truly move-in ready. The spacious kitchen features 42" cabinets, gas cooking, and a center island with plenty of prep space and storage, all opening into the bright and inviting living area with 9' ceilings that create an open, airy feel. The primary suite is privately positioned away from the secondary bedrooms, offering a peaceful retreat with a spacious bathroom featuring a garden tub, separate shower, and dual vanities. Major system upgrades have already been taken care of, including a roof replacement (2021), water heater replacement (2024), UV-C germicidal lights added to the HVAC system, and a complete electrical upgrade with whole-home surge protection (2025). Outside, the home offers low-maintenance front and rear landscaping, rain gutters, solar exterior lighting, and a security system with upgraded cameras. A handicap-accessible back staircase with enclosed storage adds additional functionality, while recent maintenance including cleaned laundry ducts, inspected gas lines, and garage door service provides peace of mind. Located within walking distance to the elementary school and neighborhood amenities, including the HOA pool, splash pad, and playground, the home also offers convenient access to shopping, dining, major highways, and is just 10 minutes from SeaWorld. A well-maintained home with a rare low-interest loan opportunity in a convenient location - this is one you don't want to miss.
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.
