Located in the desirable Summerfield neighborhood, this spacious and beautifully maintained 2½-story home offers over 3,527 square feet of living space with 3 bedrooms, 3.5 bathrooms, and thoughtful updates throughout. Abundant natural light pours through expansive windows, highlighting the beautiful hardwood flooring and creating a warm, inviting atmosphere. A dramatic foyer opens to the impressive Great Room, where soaring vaulted ceilings, a wall of windows, floor-to-ceiling built-ins, and a cozy gas fireplace create the perfect gathering space. The formal dining room and living room provide additional areas for entertaining, while the large eat-in kitchen features granite countertops, abundant cabinet storage, a newly installed reverse osmosis water filtration system, and access to the delightful three-season room overlooking the beautifully landscaped backyard. The first-floor owner's suite provides a private retreat with a spacious walk-in closet and en-suite bath. Additional conveniences include first-floor laundry and generous storage throughout the home. Upstairs, you'll find two additional bedrooms, a full bath, and a large bonus room that could easily serve as a fourth bedroom, home office, or flex space. The enormous finished lower level adds exceptional versatility with plenty of room for a recreation area, workout space, hobby room, home office, or media room, and is complemented by a full bathroom. Outside, enjoy mature landscaping and a dedicated fenced dog yard, creating the perfect outdoor space for both pets and people. Thoughtfully updated and meticulously cared for, this home offers the ideal combination of space, comfort, functionality, and modern conveniences within the Pickerington School District
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.