Set on a rare, unrestricted 5-acre property, this home invites you to create a lifestyle that fits you — whether that’s space to roam, room to build, or freedom to enjoy the outdoors without limits. Two peaceful ponds. The 3-bedroom, 2-bath home is warm, welcoming, and move-in ready, with a spacious living area, nearby dining, and a kitchen that is updated, plenty of cabinets and dual access to dining or outdoors. Primary bedroom with windows, walk in, and en suite bath. This 1382 square foot house was well designed to use the space. Right outside the comfort of your home, is acreage your own! You have ponds, workshop, mature trees and just imagine the possibilities. The cross-fenced acreage is perfect for some horses even a corral are and loafing shed. Also cows, chickens or those horse powered or electric toys. The detached 24 x 22 garage-workshop is what our buyers ask for often. Steel framed, concrete floor, electric, and also a 2 car carport. With no restrictions, your freedom is built in. Keep animals, light fireworks, create a mini-farm, build a guest house, or simply enjoy the peace and privacy of open land — this property adapts to your vision, not the other way around. Tucked into a quiet country setting yet within easy reach of town, this is the rare blend of serenity, space, and opportunity .
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.
