Welcome to Stone Mill Estates! This spacious 4-bedroom, 2.5-bath home with a finished basement is ready for its new owners. With numerous updates completed within the last five years, this property offers comfort, style, and plenty of space for today's homeowner. As you enter through the front door, you are greeted by a welcoming foyer with soaring vaulted ceilings and a staircase leading to the second floor. The main level features a formal living room, a convenient powder room, laundry area, and a bright family room with large windows that fill the space with natural light. The family room flows seamlessly into the formal dining room, which overlooks the backyard and connects to a cozy morning sitting area, perfect for everyday dining. The beautifully updated kitchen was completely renovated just a few years ago and features stainless steel appliances, updated countertops, a stylish backsplash, abundant cabinetry, and ample workspace. A rear door off the kitchen leads to the backyard patio, creating the perfect setting for relaxing outdoors or hosting family gatherings. Adjacent to the kitchen is the spacious living room, complete with a gas fireplace for added warmth and charm. The expanded laundry room offers additional storage, cabinetry, and a folding area. Interior access to the attached two-car garage with automatic openers is also conveniently located off the laundry room. Throughout the main level, you'll find updated within the last few years hardwood, tile, and luxury vinyl flooring, along with plenty of recessed lighting. Upstairs, a versatile open landing area provides space for a decorative bench, shelving, or sitting area. All four bedrooms are located on the second floor, along with a full hall bathroom featuring a tub/shower combination. The spacious primary suite includes three closets, one of which is a walk-in closet, as well as a private bathroom with a double vanity, soaking tub, and separate shower. The second-floor also includes all new hardwood flooring that has been replaced within the last few years, and all bedrooms include ceiling fans. The finished basement provides additional living and entertaining space, complete with a dry bar area and plenty of room for gatherings. A separate utility and storage room houses the home's mechanical systems while offering some storage space. Additional highlights include owned solar panels with no lease payments, helping reduce electric costs. The windows and screens were replaced less than two years ago, and the front stucco was redone approximately five years ago. Don't miss your opportunity to own this beautifully maintained home. Schedule your private tour 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.
