Fantastic Acreage Home with no HOA! Come see this wonderful property. Horses (or any 2 large animals) along with any number of small animals are allowed. Massive driveway allows for your Recreational vehicles and all your toys, and an oversized garage not only fits two large vehicles, but offers plenty of natural light, a workbench, plenty of overhead storage and a service door providing direct access to the backyard of your 1.23 acres with Mature Trees and many separate fenced in areas that provide maximum flexibility. A recently poured patio extends the full length of the back of the home (65' x 14') with a 12 x 14 Pergola. A play set and horeshoe pit is sure to keep the kids entertained. There is a pole barn, chicken coup and storage shed, along with some raised beds. Step inside the home and enjoy several recently remodeled areas. The kitchen has all the finishing touches you are sure to enjoy! New appliances include 5 burner propane gas stove with a beautiful vent hood, along with upscale refrigerator and dishwasher. Counters are Corian with a classic tile backsplash, and there is a large bay window that lets in plenty of natural light. It is all finished off with soft close drawers and cabinets with many built in features. There is a large pantry that was a converted half bath that still has the water taps, so you have the choice of keeping the pantry or being able to easily add a half bath on the main level. The other two bathrooms, one on the lower level and one on the upper level have also been tastfully remodeled. LVP flooring is used on most floors and extensive use of ceiling fans and attic fans help keep the home comfortable. You will also find a newer furnace and roof have been installed. Lastly, even your dogs are pampered with a conveniently placed doggie door leading to the garage, and then another to the back yard to make things easier for them and you! Come see this beautiful home and property and make it your own private oasis!
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.
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