Imagine waking up in a sunny top-floor condo with hardwood floors that catch the morning light, treetops swaying outside your window, and a peaceful calm that makes it feel like your own private retreat. You’ve got a storage unit and laundry right in the building making life here effortlessly convenient. Step outside and you’re surrounded by a lush green courtyard dotted with mature trees, wide-open lawns, and little nooks for relaxing or reading a book in the sun. This isn’t just a home, it’s a community that encourages you to live outdoors: swim in the amazing pool, stop by the farmer’s stand, shoot hoops, play tennis, have a picnic, or let the kids enjoy the tot lots. If you love being active or soaking up nature, you’re in luck. The Mount Vernon Trail is just moments away for biking, running, or walking along the Potomac. Belle Haven Park & Marina is perfect for boating or a weekend paddle, and the Dyke Marsh Wildlife Preserve and Mt. Vernon Rec Center are right there for outdoor adventures. Parking is easy because the community has a shared parking lot for owners and plenty of street parking for guests, so coming and going is simple and stress-free. You’ll also find canoe and boat storage options on-site, perfect for weekend adventures along the Potomac. Need coffee, groceries, or a bite to eat? Belle View Shopping Center is just across the street. And with Old Town only 2 miles away and quick access to Huntington Metro, DC, Fort Belvoir, and National Harbor, you get the best of both worlds: a serene, green retreat that’s still close to everything. Want a 4.75% interest rate? There’s an assumable VA Loan for those with eligibility, just ask the listing agent for more information.
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.
