Showings to start Saturday April 25th Welcome to this spacious split-level home perfectly situated on a large 3/4 acre corner homesite in a well-established neighborhood. With 5 bedrooms and 3.5 baths, this property has plenty of living space inside and out. The home makes a striking first impression with stone wrapping the entire first level, adding timeless curb appeal. Inside, hardwood floors flow throughout the kitchen, morning room, family room, and living room, creating a warm and inviting atmosphere. The heart of the home is the expansive kitchen featuring a large center island, stainless steel appliances, and a stylish apron-front sink, ideal for both everyday living and entertaining. The adjoining family room with showcases a beautiful stone/floor to ceiling wood - burning fireplace, and custom built-ins that add charm and character. Convenience meets functionality in the well-equipped laundry room, complete with front-load pedestal washer and dryer, countertop workspace, and a utility sink. The lower-level has a flex room with a cedar lined-closet, bedroom with walk-in closet and a game room with bar area as well as a theater style room. Step outside to enjoy the spacious backyard, designed for both relaxation and entertaining. Highlights include a heated pool surrounded by an oversized patio area, an outdoor stone grill station, and a charming dollhouse-style shed. Additional features include a side-entry garage with ample parking large enough for 8 cars, an epoxied garage floor, and added storage with a closet. The roof, gutters, HVAC (w/2 heating zones), and hot water heater were installed in 2024. This home offers space, character, and endless potential, all in a desirable location.
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.
