Gorgeous Hobby Farm on Nearly 15 Acres. Ready for You & Your Livestock! Welcome to your dream country escape! This stunning 5 bedroom, 3.5 bath, 2-story home offers 2,968 sf of well-designed living space and sits on nearly 15 acres of fenced land with a pond and creek; perfect for livestock, hunting, and fishing right in your own front yard. Inside, you'll find a thoughtful floor plan featuring a spacious living space with cozy fireplace. Downstairs is the oversized primary suite, plus a guest bedroom with en-suite bath ideal for multi-generational living or visiting guests. The formal dining area is perfect for entertaining, while the kitchen boasts granite countertops, a large island, walk-in pantry, and cozy breakfast nook. Upstairs offers three additional bedrooms and a full bath. A generous utility room is conveniently located just off the garage, as well as the half bath. Home has been meticulously cared for and undergone many recent upgrades. New roof and hot water heater in 2024. Generator added (works entire home/shop), new carpet in living space and downstairs guest room. (See attached list for more updates.) Beautiful front/back porches to enjoy the privacy and views. Step outside to your fully equipped 35x72 barn, designed for a small animal herd with watering systems and electric in each pen. There's also room for equipment storage, and an attached chicken coop. Behind the barn you will find loafing shed and round corral pen. New 4x4 wire/pipe fencing throughout. Land is fully fenced, cross-fenced, has large stocked pond, custom cut trails throughout property, and a creek which helps bring in abundance wildlife. Excellent hunting opportunities on your own piece of ground! Piped entryway with solar gate for added privacy. (Home has NEVER been at risk due to floodplain status!) Located just 1.5 miles off HWY 88 and minutes from HWY 412, this property offers the perfect blend of peaceful country living with easy access to town.
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.
