Stop scrolling. You’ve found the home that changes the game. First let's talk structure - all brick and quality construction means less worries and reduced maintenance headaches. The interior explodes with an open floor plan, which means effortlessly flowing comfort, making every day feel less cramped and more expansive. Now let's address the crisis of modern urban living: parking. Have you driven past cramped East Nashville homes, see the tiny pad they call a driveway? Not here. This property features a large and spacious driveway that laughs in the face of those parking deficiencies, easily offering room for 4 cars—yes, 4 or maybe more—so you can host without anyone getting ticketed; you might even forget what street parking anxiety feels like, but trust me, your neighbors won't. Forget sun-scorched patios and step onto the covered back deck, an amazing space for entertaining, it feels less like a deck and more like a private resort escape, where the mood is always relaxed and the rain is no problem. If space is power, then you are buying a fortress: with a colossal 3,939 square feet, you have room for everyone. When it comes to morning chaos, this home has an intervention: 4 full bathrooms, the benefit is clear—everyone gets their own bathroom, eliminating door-pounding and arguments; imagine the peace. This isn’t just a home-it's a wealth-building asset. This is for the buyer who understands that a house that pays you to live in it is genius! A finished, separate basement offers you an immediate benefit: You can instantly start collecting rent checks and offset your mortgage, turning massive expense into a cash-flow stream. The price for the size here is unbeatable. You simply will not find this much house, this much earning potential, in this area for this price. And a driveway so vast, you could park two of your neighbors' entire car collections! Stop thinking and start acting. Call your agent now before this one gets away!
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.
