Step into the home of your dreams-a better-than-new, move-in-ready gem perfectly situated on a rare 70' greenbelt lot with NO CITY TAXES! Designed for both everyday living and unforgettable entertaining, this stunning one-story MI Homes Edinburgh floor plan offers an open-concept layout, soaring high ceilings, and abundant natural light throughout. At the heart of the home, the chef's kitchen impresses with an oversized granite island, bar seating, stainless steel appliances, gas cooking, pot filler, subway tile backsplash, and expansive counter space-ideal for hosting and gathering. The versatile open dining area easily doubles as a second living space for added flexibility. Enjoy seamless indoor-outdoor living with an expansive TREX deck (with storage below), covered patio, pergola, and a large, flat backyard backing to a peaceful greenbelt-perfect for entertaining, relaxing, or creating your own private oasis. Retreat to the luxurious primary suite, featuring a spa-like bathroom with dual vanities, quartz countertops, an oversized seamless glass shower, and a spacious walk-in closet. A private front office with glass French doors makes working from home effortless, while the guest suite with ensuite bath offers comfort and privacy. Additional flex space provides endless possibilities, including a home gym, media room, hobby area, or second office. This home is loaded with upgrades, including no carpet throughout, energy-saving 3M window film, surround sound wiring, a water softener, and a tankless water heater. The upgraded landscaping and masonry enhance curb appeal, while overhead garage storage racks add convenience and peace of mind. Why wait for new construction when you can own this practically new, upgraded home on a premium lot-at a fraction of the price? Schedule your showing today-this one won't last!
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.
