Spacious, upgraded, and built for both lifestyle and functionality, this unique property offers the perfect blend of indoor comfort and exceptional outdoor living. Inside, you’ll find generous living spaces designed for everyday living and entertaining, while the true highlights are outside. Enjoy your own private retreat featuring a fully equipped outdoor kitchen ideal for hosting year-round. The property is set up for equestrian or hobby farm use with a custom 2-stall horse barn and approximately half an acre of pipe-fenced pasture. The barn features oversized foaling stalls with custom doors and windows, premium Stall Saver flooring, and plumbing for automatic waterers. It’s prepped for foam insulation, with feed and tack rooms roughed in for HVAC. Additional amenities include a wash rack, multiple water access points, and wide gates for easy equipment and livestock access. The 36’ x 65’ shop (36’ x 85’ overall with barn) offers incredible versatility with space for a gym or workspace, plus a heavily reinforced safe room with custom safe door and HVAC rough-in. The mezzanine level includes a full bath, wet bar rough-in, and is prepped for HVAC ideal for office or entertainment space. Built for durability, the shop includes a reinforced slab, added structural supports, separate electrical panel tied to the home and Generac generator, gas lines, lift station, and high-speed internet. Major 2022 upgrades include Low-E windows, two TRANE HVAC systems with WiFi thermostats, fully encapsulated foam attic, added fresh air vents, WiFi garage doors for home-shop-barn, and a new 30-year composition roof. A Generac whole-home generator provides added peace of mind. This property offers a rare combination of modern upgrades, land flexibility, and outdoor living—perfect for those looking to live, work, and play in one place.
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.
