12607 Princeleigh Street has been beautifully updated throughout and offers an impressive four finished levels designed for both everyday living and entertaining. From the moment you arrive, you will appreciate the charming curb appeal, covered carport parking, and welcoming entrance. Step inside to a bright and spacious main level featuring luxury flooring, recessed lighting, fresh neutral paint, and oversized windows that fill the home with natural light. The large living room flows seamlessly into the dining area and updated kitchen, creating an open and inviting layout ideal for gatherings. The kitchen is beautifully renovated with granite countertops, stainless steel appliances, updated cabinetry, custom backsplash, gas cooking, and a large center island offering additional prep space and seating. The upper level offers three spacious bedrooms, including a generously sized primary suite with excellent closet space and an updated primary bathroom featuring dual sinks, ample storage, and a separate shower and toilet area for added privacy and functionality. The additional bedrooms are bright, spacious, and move-in ready. The first lower level offers even more living flexibility with an additional bedroom, updated half bath, laundry area, flex space perfect for a home office or playroom, and a large family room featuring a fireplace and easy access to the rear patio and backyard. The final lower level provides one expansive open space ready for your imagination. Whether you envision a theater room, home gym, game room, hobby area, or additional entertaining space, this level gives you the flexibility to truly make it your own. With updated finishes throughout, multiple living spaces, and room for everyone to spread out comfortably, this home offers the perfect combination of space, functionality, and modern updates
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.
