From the moment you step inside, this four-sided brick home feels easy to settle into. The home leans into comfort and everyday livability. The kitchen and living room share one open, comfortable space that's great for everyday life. Sunlight pours through the bay windows, and the built-in wood-burning stove with its firewood niche adds an authentic touch that gives the room real character and charm you don't find just anywhere. A separate dining room sits just off the kitchen, making it simple to host dinners or keep weeknight meals organized. The kitchen offers an island for extra prep space, plenty of cabinetry, recessed lighting, and solid-surface countertops that hold up beautifully. Outdoors is where this property truly opens up. A 70x40 in-ground saltwater pool anchors the backyard, surrounded by a large patio and a dedicated fire-pit area-great for quiet evenings or big gatherings. The fully fenced yard includes a chicken coop, and the property is well-equipped with a 30x30 powered shop, 12x12 shed, 12x12 powered gazebo, and an 8x8 powered pool house. There's even extra attic storage above the garage. The home has seen thoughtful updates over the years, including a new pool liner (2 yrs), new salt system (1 yr), new well tank (2 yrs), new HVAC (3 yrs), new windows and doors, and a new generator hookup (1 yr). Located within the Madison County School District, this property offers practical living, inviting spaces, and an outdoor setup that's hard to beat.
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.
