PRICE ADJUSTMENT! Take another look at this luxury ranch style estate is poised on a 1.8 acre lot with many custom upgrades which blend sophisticated craftsmanship with eco-conscious innovation. Step into a grand open-concept living area, where hand-scraped hardwood floors, LED lighting & soaring ceilings create an atmosphere of timeless refinement. The living area features a corner stone fireplace, tall ceilings with rich wood beams & spectacular views of the patio. The gourmet kitchen is a chef’s dream, featuring a built in smart refrigerator, a ZLINE gas cooktop, a ZLINE pot filler, & a Bosch dishwasher. The pantry offers an under-counter refrigerator, & custom wood shelving for extraordinary storage. The primary bedroom is on the main level and offers an oversized bathroom with updates and 2 closets. The dressing closet offers special designs for jewelry, accessories and clothing. The basement is an entertainment masterpiece, featuring a custom media center with in-wall surround sound speakers and a subwoofer, a custom library wall, and a custom wine cellar for the collector. There are 2 additional rooms which can be a music room and office. The fourth bedroom offers space for a sitting area and has a built-in desk. A custom patio, centered around a luxurious outdoor kitchen with granite and stone finishes, includes a grill, a refrigerator, sink, and built-in cabinets. The built-in speakers and ambient lighting set the stage for gatherings, while a fire pit adds warmth to serene evenings. The lot is nurtured by a cost-saving well water system with a sprinkler network and dedicated water lines to all the plants, trees and the charming garden, to create a secret oasis. Sustainability is woven into the estate’s core, with owned solar panels for low electric bills, paired with Smart thermostats and locks on entry doors for seamless control and security. Smart lighting and fan control enhance efficiency across the living room, master bedroom, basement, and attic.
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.
