Discover unparalleled peace of mind and sophisticated living in this move-in-ready two-story home, nestled within a tranquil, established Hampton neighborhood. Boasting a brand-new roof, replaced just one year ago, this residence offers immediate comfort and lasting value. Built in 2005, this expansive 2,180-square-foot haven features three generously proportioned bedrooms and two and a half luxurious bathrooms, perfectly designed for your next chapter. Step inside from the charming front porch and be captivated by an inviting open floor plan, where gleaming luxury vinyl plank flooring guides you through the main level. The heart of the home, a massive living room, beckons with a cozy fireplace—an ideal setting for intimate evenings or lively gatherings. Adjacent, the elegant dining room, adorned with custom molding, promises memorable meals. Culinary dreams come alive in the well-appointed kitchen, featuring a grand island, sleek stainless steel appliances, and a convenient walk-in pantry, making entertaining a delight. Ascend to your private sanctuary: the oversized primary suite. Here, elegant trey ceilings soar above a dedicated sitting area, creating a serene escape. The spa-like en-suite bathroom indulges with a separate soaking tub, a spacious walk-in shower, and his-and-hers vanities. The secondary bedrooms are equally impressive, offering vaulted ceilings that enhance their generous proportions and fill them with natural light. Additional highlights include a practical two-car garage with a screened enclosure and a robust, low-maintenance slab foundation. Residents of this vibrant community enjoy exclusive access to fantastic HOA amenities, including a sparkling swimming pool and a welcoming clubhouse. Perfectly situated at 140 Revolutionary Drive, this home offers a serene lifestyle with effortless access to local conveniences. Embrace the comfort, quality, and community that await you in this exceptional property.
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.
