2.25% Assumable Loan. Impeccably maintained 4 bedroom and 3.5 bathroom home in the highly desirable Glenkirk Estates. Nestled in a quiet cul-de-sac, this immaculate open floor plan stands out above and beyond any home sold in Glenkirk Estates. The grander of the open foyer greets you and sets the stage for what's beyond the beautifully adorned greek doric columns. The hardwood floors guide you through the warmth and elegance this home, showing off the extensive trim , chair railing, crown molding, ceiling rosettes that fittingly adorn this home. Culinary creativity can shine in the gourmet kitchen. In 2020, the homeowners added quartz countertops, a new stainless basin sink with apron, a gas cooktop, double ovens and an island fitted with a butcher block top. The kitchen personifies what a chef needs to entertain family and friends with ease. The study on the main level is a standout among all other homes in Glenkirk Estates. Updated in 2024, the french doors, hardwood floors, custom built-in bookshelves and crown molding invite you to work from home, build a business or complete that much needed school work. The primary suite, with a his and her bathroom design, gives rise to a personal sanctuary. The tray ceiling creates expansion, while the dual vanities, his and her walk-in closets, oversized shower and full submersion soaking tub defines a spa like experience. The finished basement with egress provides a versatile living space as an extension of the main living areas. The recessed and natural light show off the large footprint. It's complete with a den, large recreation area, full bathroom and workout room. If maintenance costs are a concern, feel confident in knowing the entire home was painted in 2025, the roof was replaced in 2021, the dual zone HVAC system provides efficiency and the sprinkle system provides hands free lawn maintenance. This is a one of a kind home that makes building a family or building a dream life a reality.
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.
