This is the home where weekend hikes, orchard runs, and back-porch coffee feel like your new normal. Imagine stepping out your back door straight into Pryor Orchard, fresh peaches in summer, apples in fall, the kind of farm-to-table living that feels like a luxury you didn't know you needed. This 2022-built modern home on a partially wooded acre is where elevated design meets the ease of country living, just minutes from Catoctin Mountain Park's waterfall trails and Highway 15. Inside, rich hardwood floors flow through sun-drenched spaces with a gas fireplace and a hand-hewn mantel reclaimed from a local barn. The chef's kitchen features a gas cooktop and stainless appliances, while oversized windows throughout flood every room with natural light. The main-floor luxury bill payer suite provides a large walk-in closet, soaking tub, double sinks, tile shower and private water closet. A second full bath and flex room (currently a home office, perfect as a guest bedroom) also on the main level. Upstairs, two generous bedrooms each with walk-in closets and share a third full bath with tile shower. Tucked between them? An insulated secret storage room that can be finished into your future reading nook, dog sanctuary, or the place you hide the good snacks. (We won't tell.) The unfinished walkout basement is a blank canvas with bathroom rough-in already in place. Think home gym, media room, or game space. Outside, the spacious back porch with built-in speakers is made for long evenings and easy entertaining, while the property comes turnkey with LeafFilter gutter guards, underground dog fence, and storage shed in place.
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.
