A true private retreat, this beautifully renovated 3-bedroom, 3-full-bath home is highlighted by an extraordinary backyard designed for resort-style outdoor living. The outdoor space unfolds around a spacious deck, creating inviting settings for gathering with friends, dining outdoors, or simply enjoying quiet moments surrounded by nature. A built-in firepit anchors the space, while patio areas and a covered balcony overlook the beautifully landscaped grounds. A separate outbuilding offers the perfect space for a private gym and includes a shower, adding flexibility and convenience. Inside, the home has been fully renovated with a modern kitchen and beautifully updated bathrooms throughout. The former garage has been transformed into an impressive family room with tile flooring, dramatic floor-to-ceiling windows along one wall, and expansive folding glass doors along the other, allowing the entire wall to open and seamlessly blend indoor and outdoor living. The living room offers a warm and inviting atmosphere centered around a classic wood-burning fireplace. A striking wall of windows and glass doors fills the space with natural light and opens directly to the spacious raised deck, offering lovely views of the beautifully designed hardscaping and outdoor living areas. On the lower level, one of the bedrooms serves as a spacious primary suite, complete with a walk-in closet, dressing area, and a large spa-like shower in the ensuite bath. Sliding glass doors open directly to the patio, while a second set of sliding doors connects the suite to a bonus room featuring an electric fireplace—ideal for a private sitting room, office, or retreat. A second lower-level bedroom with a spacious ensuite bath includes a walk-in closet and features sliding glass doors to the patio, offering the perfect opportunity to step outside for morning meditation. Ideally located within the welcoming neighborhood of Stongeate, the home is just a short walk to the local elementary school, park and playground, as well as the Stonegate community pool and tennis courts, which are available through membership. Combining beautifully updated interiors with exceptional indoor-outdoor living and a convenient location, this home offers a rare lifestyle opportunity for both everyday comfort and memorable entertaining.
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.
