Welcome home to this beautifully updated all-brick ranch in the established St. James Estates community--NO HOA! Situated on a generous, wooded 0.30-acre fenced lot, this move-in ready home offers 4 spacious bedrooms, 2 full baths, and a versatile floorplan designed for comfortable living and entertaining.Inside, you'll find luxury vinyl plank flooring throughout the home, smooth ceilings, and abundant natural light. The updated kitchen features granite countertops, stainless steel appliances, and ample dining space, all flowing seamlessly into the cozy family room with a wood-burning fireplace--perfect for gathering. A separate laundry room adds convenience, and the washer and dryer convey with an acceptable offer.Major updates provide peace of mind, including a newer architectural roof (2019), HVAC (2018), and a fully encapsulated crawlspace with sump pump, dehumidifier, and French drain system--complete with transferable warranty. The fireplace was updated to code in 2020. Fresh interior paint, newly epoxy-coated garage floor, and recent exterior power washing make this home truly turnkey. The finished FROG (heated and cooled, not included in square footage) offers flexible space for a home office, gym, or guest retreat. Outside, enjoy the large fenced backyard, front porch, patio, and an attached workshop/storage area--ideal for hobbies or extra storage. The extra-long driveway and oversized 2-car garage provide plenty of parking. An outside storage room off the patio offers a great place for overflow living or storage, or a home gym or potting shed! Make it your own! Conveniently located near shopping, dining, and major roadways, this well-maintained home combines space, updates, and value in one exceptional package. Don't miss this opportunity!
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.
