Discover this stunning 2,650 sq. ft. contemporary ranch set on 1.25 beautifully landscaped acres, perfectly located in the Millington School District and right on the edge of the Clio boundary. This spacious 3-bedroom, 3-bath home offers exceptional comfort, privacy, and modern living throughout. Step inside to find two luxurious master suites, including a main suite added in 2010 featuring a custom steam shower with a rainwater spa system, granite countertops, and a generous walk-in closet. The open-concept kitchen and dining area flows seamlessly into the newly remodeled family room, showcasing a gorgeous backyard view through a brand-new four-panel sliding glass door that opens to the deck and heated in-ground pool. Outdoor living is a highlight of this property, featuring a custom kidney-shaped in-ground pool with a 2019 liner and a convenient poolside shed for storage. The acreage is thoughtfully landscaped for both beauty and privacy. In addition, a separate guest house sits on the property, complete with its own bedroom, bathroom, and kitchen—ideal for visitors, extended family, or rental opportunities. An impressive 24x40 guest house provides even more versatility, perfect for a man cave, In-law suite or hobby space. The finished basement is designed for entertainment, complete with a custom bar and unique stained-glass cabinetry. Additional features include first-floor laundry, a cozy fireplace, a two-car garage, a 2023 solar system for energy efficiency, and a new on-demand hot water system. All kitchen appliances, plus the washer and dryer, are included. This property is truly move-in ready and built to impress—inside and out. Call to schedule a showing today.
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.
