Welcome to your private retreat, 13254 79th Court N, in The Acreage! **SELLER HAS 3.5% assumable FHA mortgage**. Nestled at the end of a quiet street, this beautiful home sits on 1.31 acres in a wonderful neighborhood that offers both privacy and convenience. Step inside and you'll be greeted by a bright and open living and dining area, perfect for gatherings and entertaining. Soaring vaulted ceilings create an airy, inviting atmosphere, while oversized windows fill the space with natural light and provide serene views of the expansive backyard. The newly remodeled kitchen is a chef's delight, featuring abundant cabinetry, gorgeous granite countertops, and stainless steel appliances. This home offers 4 spacious bedrooms and 2 bathrooms, designed with comfort and versatility in mind. The large master suite is filled with natural sunlight and includes a beautifully updated bathroom with granite vanity. Three additional bedrooms provide more spaces for guests, a home office, or even a fitness room. Additional peace of mind comes with a 9-year-old roof and an 8-year-old septic system, giving you confidence in the home's long-term value. Step outside to enjoy a large covered patio, ideal for outdoor dining and entertaining. With over an acre of land, there's plenty of room to play, relax, and grow. The property also features fruit trees including mango, avocado, lemon, and ackee - a rare and delightful bonus! All this, while being just minutes from shopping, dining, and the airport for ultimate convenience. This home truly combines comfort, privacy, and value - a perfect fit for families and anyone looking to enjoy the best of Acreage living!
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.
