This 3-bedroom, 1-bath upstairs, and half bath downstairs, large spacious living room, dining room, mudroom/pantry area. You will get the flexibility of enjoying the low maintenance fenced in back yard for outdoor living and hot tub area. A partial fenced in front porch, for morning coffee or evening chats, sets the tone as you step inside to a cozy, welcoming living room featuring updated flooring and fresh paint throughout, providing a clean, modern feel with the vintage original wood trim. The traditional layout flows into the dining room, or perfect space for a home office, gaming room, or additional living space to fit your lifestyle needs. Past the half bath and the beautiful built in china cabinet. The kitchen showcases neutral cabinetry, new back splash, large farm sink, natural gas double oven/stove, complemented by a large pantry space offering excellent storage. Step outside and you'll love the fenced backyard, pets, and gatherings under the shade of mature trees. Whether you're grilling or relaxing. This backyard is a great space to enjoy the outdoors. The basement has been dewatered, equipped with sump pump, furnace, water conditioner, and 2-year-old water heater. Upstairs via the refinished wooden steps is the spacious primary bedroom, offering room for a king size bed, dressers, vanity, and still room to move around. Second bedroom is of equal size. Third bedroom/home office/gaming room/playroom, provides flexibility as your needs change. All 3 bedrooms have new flooring and paint. The fully remodeled bathroom with tiled tub and shower. Roof was replaced three years ago, updates throughout, including new flooring, paint, Vivint Security system with smoke and carbon monoxide detectors, 8ft.x14ft. Amish built shed, and a small utility shed for outside storage. Located near downtown, parks, & schools. Immediate occupancy, move in ready 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.