🎶 Directions: Read this description to the tune of ''The 12 Days of Christmas'' 🎶(And don't forget to spot the hidden elf in the photos!)- On the first day of Christmas, this Summerville home gave to me...Charming curb appeal and a welcoming entry.- On the second day of Christmas, this home showed to me...Bright, open living spaces filled with holiday cheer.- On the third day of Christmas, waiting just for me...A cheerful kitchen, with plenty of cabinets and room to cook with glee.- On the fourth day of Christmas, tucked away you'll see... Peaceful bedrooms, perfect for rest and sweet dreams.- On the fifth day of Christmas...🎶 FIVE CO-ZY ROOMS! 🎶(Perfect for hosting, relaxing, or curling up by the tree.) - On the sixth day of Christmas, stepping outside you'll find... Outdoor space for coffee mornings and festive nights. - On the seventh day of Christmas, this home reminds me... A smart layout that simply flows with ease. - On the eighth day of Christmas, something practical to see... Great storage and low-maintenance livingyes please! - On the ninth day of Christmas, every season agrees... Comfortable living all year long. -On the tenth day of Christmas, location made me grin... Summerville convenienceshopping, dining, schools, and roads just minutes in. - On the eleventh day of Christmas, imagine memories... Laughter, lights, and traditions made year after year. - And on the twelfth day of Christmas, the biggest gift you'll see... A holiday FLASH SALE PRICE to end the year happily! Holiday / Year-End Flash Sale Opportunity! This home is wrapped up with special year-end pricing making now the perfect time to unwrap your next chapter before the New Year rings in! Bonus Holiday Fun: An elf has been busy can you spot the elf hidden in every photo? _____________________________________________________ See agent notes and ask about possibility of a 1% rate reduction.
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.
