You have found your retreat away from it all at 143 Ridge Road! Follow the picturesque winding driveway through the woods to a private wooden oasis. As the driveway curves around, you’ll notice this unique home come into view. Enter through the inviting custom wooden doors, which are framed in windows for plenty of natural light in the beautiful foyer. Notice the gorgeous wooden walls, the unique tile, and mid-century open air stairs and chandelier with a second floor balcony walkway. The foyer opens to the bright living area and dining area. The first thing you’ll notice is the wall of windows connecting you to nature. The unique sunken living area features a raised brick fireplace and two sets of sliding doors for easy access to the backyard and combines the two spaces together. The den/office is tucked away behind french doors and features wall to wall shelves which creates a classic office space. In the dining area, enjoy the gorgeous wall of windows, opening the space to nature and a view of the backyard. A unique highlight to the dining room is the indoor patio which can be used for plants or other featured items. There’s a serving window for easy access to the kitchen and making entertaining simple. Enter the beautiful kitchen with plenty of cabinets so that you won’t run out of storage. Enjoy the peninsula with built in range and bar seating, built in corner oven, wood stove and quaint breakfast area. This home continues to help you to enjoy nature with the sliding doors in the kitchen to the backyard. There's an unfinished bonus room with two story ceilings and plenty of room to make it your own. Finishing the first floor is the mud room/laundry room, powder room, storage area and 2 car garage. Follow the beautiful wooden stairs to the second floor and cross the balcony to the main bedroom. Notice the unassuming walk in closet that is the length of one wall and the main bathroom that is waiting for your personal touches. There is a large second bedroom, a third bedroom, a full bath and finishing the second floor is another extra room that is being used as an office. Outside there are pathways with beautiful trees and plants with the special feature of a koi pond. Make this hidden treasure yours today!
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.
