Beautifully maintained, one owner, custom home with five bedrooms and four FULL bathrooms. Four beds on the main level and one bedroom upstairs. Jellyfish lighting added to the exterior of the home in the eaves that can be controlled remotely. Nice entry into a functional living space, freshly painted with fireplace. Lots of windows for natural light, with blinds throughout the home. Engineered wood flooring in the living room and study. Study is off the main living space. Open concept kitchen with large walk in pantry. Granite countertops, fresh paint with stainless steel appliances w/ a gas cooktop. Bar seating at the island and space for a large table in the kitchen, dining space. The primary suite is large with nice windows and new carpet. Primary bath is spacious with walk in shower and a separate, Whirlpool tub. Granite counters with double sinks and tile floors. Large walk in closet with lots of storage space. There is a secondary bed near the primary with a full, guest bath. On the opposite side of the home, there are two beds with new carpet and spacious closets. Shared bathroom with granite and double sinks for those bedrooms. There is a very functional laundry room just off the three car garage. Storm shelter in the garage floor. Garage has some additional space for storage. Updated wireless sprinkler controller provides remote access, with a rain/freeze sensor. Upstairs has a large bonus room with a 13ft screen with a projector and surround sound. Fifth bed and full bathroom upstairs. Two walkout attic spaces for easy access and extra storage. Newer roof with class 4 shingles and 6" gutters. Newer tankless hot water tank. Large backyard that sits on a corner lot, with a covered patio. Enjoy the neighborhood, park, pool and pond. Close to schools, shopping and restaurants.
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.
