***ASSUMABLE VA LOAN at 2.88% for qualified veteran homebuyers with an eligible VA entitlement!!!*** From the moment you pull into the driveway, you will be in awe of the craftsmanship of this home, beginning with the gorgeous, STACKED STONE covered front porch that warmly welcomes you and is ready for rocking chairs and morning coffee. Inside, you're greeted by a stunning TWO-STORY TRAY CEILING and windows galore pouring in natural light. The large formal dining room features tray ceilings, DOUBLE CROWN MOLDING, and a beautiful picture window, while the living room with COFFERED CEILINGS offers a versatile space to fit your needs. Hardwood floors lead into the impressive great room where the gas fireplace with CUSTOM BUILT-INS and detailed trim work creates a true focal point, all open to the CHEF'S KITCHEN designed for entertaining with a huge island, granite countertops, stainless steel appliances including a gas cooktop, tiled backsplash, custom cabinetry, a coffee nook, and an eat-in area that leads to a COVERED DECK that stays dry thanks to the covered patio above. The MAIN LEVEL also includes a BEDROOM and FULL BATH, abundant storage with two pantries, and a convenient drop zone off the garage. Leading up the stairs, wrought iron spindles guide you to an incredible BONUS SPACE perfect for a media or play area, along with a laundry room that connects directly to the primary suite wing. The enormous primary bedroom features tray ceilings, double crown molding, LVP flooring, a PRIVATE SCREENED-IN PORCH, and a massive walk-in closet with two separate entrances, while the ensuite offers separate vanities, a soaking tub, and a shower. Three additional generously sized bedrooms complete the upper level, including one with its own ensuite bath and walk-in closet, plus another full bath with direct access to one of the bedrooms. The daylight basement provides even more opportunity with a STUBBED BATHROOM, abundant natural light, extensive storage, and access to a third covered patio, making it easy to customize into whatever space best suits your needs. Just when you thought it couldn't get any better, this home sits on a CUL DE SAC, has a level driveway and a huge, fenced-in backyard!! This property includes blue hydrangeas, sweet daffodils, dogwoods, azaleas and a 15 ft Japanese maple. Also, enjoy meeting new friends at the community POOL and get your exercise in on the PICKLEBALL and TENNIS!! So close to restaurants, shopping and so much more!
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.
