Welcome to 138 Basket Grass Ln. in The Oaks of Cane Bay, where space, style, and functionality come together in one beautiful home.This 5-bedroom, 4.5-bath homeoffers a thoughtful layout perfect for everyday living and entertaining. As you enter, you'll find a private office/study to the left featuring built-in industrial shelving, creating the perfect work-from- home or creative space. To the right, the formal dining room showcases elegant tray ceilings, ideal for hosting gatherings and special occasions.Convenience continues on the main level with a drop zone, laundry room, and half bath located just off the garage entry.The heart of the home opens into a spacious great room with an open floor plan that flows seamlessly into the kitchen and breakfast nookmaking it easy to gather and connect. Just off the great room is the first-floor primary suite, offering a generous bathroom and a large walk-in closet for plenty of storage. Step outside from the kitchen to enjoy a screened-in patio overlooking the fenced backyard, perfect for relaxing evenings or weekend cookouts. Upstairs, you'll find four additional bedrooms, including a private guest suite, along with two more full bathrooms. The second floor also features a huge flex loft area that can serve as a second living room, game room, workout space, or whatever fits your lifestyle best. Located in the sought-after The Oaks of Cane Bay community, this home offers the space and flexibility today's buyers are looking for while being close to schools, shopping, and everything Cane Bay has to offer.
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.
