Waterfront views from the bay window in the living room & from the patio in the backyard. This Ranch style home is pet friendly as there is a window in basically every room perfect for sunbathing, a pet door found next to the sliding door in the kitchen that leads to the private fully fenced in backyard. 3 bedrooms with the potential for the office to be a 4th bedroom or game room or plant room or kids' playroom. Spacious primary bedroom features a massive walk-in closet, large double sink vanity, garden tub perfect for relaxing, and walk in shower with updated shower head & handheld showerhead. Ample storage available in the laundry room, large hallway closet located near the front door & a linen closet located next to the guest bathroom. 9-foot ceilings throughout! Light switches, light fixtures with ceiling fans installed in every bedroom-2018. Front Landscape installed 2025. Furnace circuit board installed 2026. Primary bathroom exhaust fan installed 2026. Huge living room perfect for everyday living featuring an electric fireplace & the bay window looking over the backyard. The L-shape kitchen features a pantry, tons of cabinet storage, space for a dining table, & a sliding door that opens to the concrete patio in the backyard. Enjoy the backyards raised garden beds, mature trees, blackberry & raspberry bushes & fire pit that's perfect for a night in or for entertaining. Playground, community parks, shopping, restaurants, Monon Trail within walking distance. Grand Park, retail shopping, grocery stores, state parks, churches, & MORE is only a 15-minute drive away.
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.
