This home checks all the boxes with a layout that simply makes sense for everyday living and entertaining. Spacious rooms throughout create an open and comfortable feel from the moment you walk in. The primary bedroom suite on the main floor offers both convenience and privacy and is complemented by a generously sized walk-in closet that provides plenty of storage and functionality. The living room fireplace adds warmth and charm, creating an inviting focal point and the perfect place to unwind at the end of the day. The kitchen is designed with both style and practicality in mind, featuring an oversized island ideal for gathering or meal prep, a double oven, and stainless-steel appliances that complete the space. You will also enjoy the flexibility of both a dedicated dining room for hosting and an eat in kitchen that makes daily meals easy and comfortable. Upstairs, the bonus room provides endless possibilities and can easily serve as a media room, home gym, office, or playroom depending on your needs. Step outside to a backyard designed for relaxation and entertaining alike. The patio fireplace creates a cozy outdoor gathering space, while the gated saltwater pool includes two separate entrances and concrete surrounding the pool for easy maintenance. The fully fenced yard offers privacy with no backyard neighbors and provides convenient access to the river, giving you a peaceful natural setting right outside your door. The water heater and HVAC both approximately six years old. There is no HOA. ***Assumable Loan option at 3.6% interest rate for qualified VA loan borrowers. Between the outdoor lifestyle, privacy, and assumable rate opportunity, this is a property you will not 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.
