HUGE PRICE ADJUstMENT!!!!Enter this true Americana Neighborhood to arrive at the spacious beauty to impress any buyer! Side load garage, fenced regal front and brick paver driveway with iron gate scream for your attention here. Southern Exposure, Lake views, true period feel with all the warmth with modern amenities await in this spacious 4460 sqft space. The amazing curb appeal sets the mood with grace light fixtures. Covered charming entry leads to a foyer that welcomes you! Veer right to newer hardwood floors in Piano room that serves as a Parlour or formal living with beautiful windows. Flanked on the other side with formal dining room. Step into a true eat in kitchen that has huge granite island. New Refrigerator and New dishwasher. Ample storage space and a long breakfast room overlooking the beautiful pond. Step into the wide amazing family room with built in bar and storage, juxtopposed by brick fireplace and same newer hard wood flooring. This opens to a great outdoor living space or Florida room that is affirding a 2 story ceiling. Let your eye travel to the shimmering water for true calm. Great mudroom and 3 car garage finish this level. Upstairs you are greeted by a spacious master with second fireplace that affords space to relax. Crown moulding graces this room. You can finish the terrace for additional terrace on the side. Huge WIC, dual sink and period fixtures charm you in this space. Additional huge bedrooms in neutral pallette welcome you. Second bathroom with dual vanity finishes our spacious sleeping quarters with earch room being huge and wide. We aren't done yet- come to the lower level that boasts a six person sauna. A finished living space with chrming chair rail. New carpet here. Cedar lined closet for your off season storage.Welcome home!
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.
