This move in ready ranch has room for everyone and everything! This 5-bedroom, 3-bath home with over 3900 sq ft blends easy one-story living with an exceptional finished walk-out lower level. An inviting open floor plan centers around a vaulted great room with fireplace flowing to the eat in kitchen with ample cabinetry and newer appliances are included. The separate formal dining room located off of the foyer is ready for all of your special gatherings. The split-bedroom design places the updated primary suite on its own wing featuring a large walk-in closet and a refreshed bath with separate soaking tub and shower. Two additional main-floor bedrooms and a full bath provide flexibility and privacy. The walk-out lower level expands your living space with a huge family room, second fireplace, kitchen/bar area, two more bedrooms, and a full bath—ideal for guests, hobbies, home office or game day. The screened-in porch located off the kitchen overlooks the fenced yard with two storage sheds and a hot tub that stays. A whole-house generator is also included that adds peace of mind. The three-car garage has plenty of space for vehicles, tools, and toys. The washer and dryer stay, too. Move-in ready with comfort and space in sought-after Keebler Oaks—schedule your showing today! Close to shopping, dining, schools, interstates and within 30 minutes of downtown St Louis. Buyer to verify all information prior to making an offer. Owner runs a mail order business out of the house and has packed A LOT of tote tubs which are stored in the garage and back yard. These will be removed July 19/20 by the moving company.
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.
