Gorgeous one-and-a-half story Craftsman-style home featuring 3 bedrooms and 2.5 baths in the sought-after Maplewood Village subdivision of Hudson. The main level offers a spacious open floor plan with towering cathedral ceilings, a cozy gas log fireplace, and abundant natural light throughout the living area. The dining area features a charming corner built-in, perfect for displaying your favorite china or providing additional storage. The kitchen is truly a dream for any cook, complete with custom alder pine and oak cabinetry, granite countertops, an island, breakfast area, and stainless steel appliances.The primary suite is located on the main floor and features soaring cathedral ceilings, beautiful natural light, and a spacious walk-in closet. The luxurious primary bath includes granite countertops, double vanities, a soaking tub, and a gorgeous tiled shower. A convenient half bath and laundry room complete the main level. Upstairs, you’ll find two well-appointed bedrooms connected by a full bath with double vanities. One of the secondary bedrooms also includes a separate small bonus room — ideal for a home office, nursery, reading nook, gaming area, additional closet space or hobby room. The unfinished basement offers endless possibilities for future expansion, storage, workshop space, or recreation areas. Covered front porch and back deck. In this coveted subdivision, residents enjoy wonderful neighborhood amenities including desirable schools, sidewalks, walking trails, a playground, and a picnic shelter — making this one of the area’s favorite communities.
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.
