This exceptional 16-acre equestrian ranch with a scenic pond offers a rare combination of professional-grade horse facilities and practical country living, just minutes from the turnpike for ultimate convenience. Designed for serious equestrians, the property features a 110x50 main barn complete with a riding arena and 13 attached stalls, as well as a 120x60 indoor riding arena with four attached stalls for year-round training and riding. Adjacent to the indoor arena is a large L-shaped outdoor lighted arena, creating an ideal setup for events, training, and evening rides. The house needs cosmetic TLC but provides a great opportunity to add your own style and improvements. The Ranch is fully equipped with covered runs, three tack rooms, a dedicated hay room, and multiple grooming stations to ensure efficiency and functionality in daily operations. Adding exceptional versatility, the red barn includes a private 1 bed 1 bath apartment complete with a full kitchen and living room. Ideal for a trainer, ranch manager, or extended stay guests. An RV with livable guest space is also located on site, offering additional accommodations for visitors or event participants. The entire property operates on solar power, offering energy efficiency and long-term savings. The fully solar powered residence offers four spacious bedrooms and two and a half bathrooms, combining comfort with practical design. A built-in safe room provides added security, while the in-ground pool offers a private retreat for relaxing or entertaining after a day at the barn. Completing this property is a 30' x 30' x12' lighted shop, built in 2022, ideal for equipment storage, trailers, or workshop use. This exceptional ranch presents a rare opportunity to own a thoughtfully designed equestrian property that blends top-tier facilities, sustainable living, and modern comfort-- all in one remarkable setting.
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.
