Assumable loan balance 923,000 @ 5.4 USP (Unique Selling Point) # 1 : Basement has FULL KITCHEN, FULL Bath, with a big jetted JACUZZI soaker tub & dual shower-heads. Big Bedroom, with outside egress. Separate double-wide Walk-Up basement entrance, makes it easy for the Basement to be easily rented for $ 1,800 after getting an Accessory Dwelling Unit (ADU) permit from Montgomery County. Basement was finished in 2008, with proper Montgomery County Permits. ***** USP # 2 : Main Level : POSSIBLE to make powder bath into FULL BATH & Home Office into BEDROOM, for use by physically challenged people **** USP # 3 : Live like the royal family! Incredibly rare opportunity to get the best house, and the largest lot, in one of the most desirable subdivisions in Montgomery County. **** HUGE 1.50+ ACRE Lot. Aggregation of 5+ lots together, and the largest lot in 2 subdivisions. **** USP # 4 : ESTATE Home. LOTS of Bump-Outs in Family Room, Eating Area, and in Owners Bedroom. **** USP # 5 : Extensive & Expensive near-new Hardscaping: enjoy the best in outdoor living, with a Near-New Brick Patio, with a big circular design, and 2 FIRE-PIT in your big over-sized rear yard. Near-New Stone Retaining Wall, with 2 flower beds & vegetable garden on either side of a BIG Deck. Near-New Brick Walkway. Near -New Brick Front porch stoop. ***** USP # 6 : Near-New QUARTZ Calacatta-Milano kitchen countertops, with BIG 8 feet deep, 33” Single Bowl, Stainless steel sink. Near-New Kitchen Base Cabinets. 5-Burner Stainless Steel Gas Cooktop, with Near-New over the Counter Range Hood by COSMO. Near-New Samsung Dishwasher is stainless steel outside AND INSIDE, in BOTH Kitchens: basement has a FULL KITCHEN. Near-New 4 hidden trash cans. ***** USP # 7 : Near-NEW GAS HWH (Hot Water Heater) Energy-efficient 75 Gallons HWH. (May 21, 2021) ***** USP # 8 : ALL - HARDWOOD in WHOLE HOME. NEW LVP floating engineered floor in Basement. ***** USP # 9 : Near-New Paint (trendy Whipple Grey) throughout the whole home. ***** USP # 10 : Earn some passive income, too: separate Walk-Up basement entrance makes it easy for the Basement to be easily rented for $1,200+ after getting an easily-obtained accessory apartment permit from Montgomery County. Basement was finished in 2008. ***** USP # 11 : BASEMENT : FULLY Finished walkup Double-Wide Basement has a FULL Basement KITCHEN, with Near-New dishwasher, Near-New 27 Cu.Ft. LG 4 Door French Fridge. Near-New over the Counter EMPIVA Range Hood. Big Rec Room. Big Bedroom with walk-in closet. 9 feet ceiling in basement. Basement has FULL Bath, with a big jetted Jacuzzi soaker tub & dual shower-heads. ***** USP # 12 : Upstairs are 5 (FIVE) BIG-sized Bedrooms including the primary bedroom with en-suite bath and a BIG walk in closet, and 3 (THREE) FULL Baths. ***** USP # 13 : 2 Skylights in Owners Bathroom, and in Hall Bath. ***** USP # 14 : 1 big Gas Fireplace in Family Room ***** USP # 15 : 2 Electric Fireplaces in Basement. ***** USP # 16 : Several recent updates : Near – New : Big DECK (2020), BRYANT – Carrier HVAC Compressor (2019), New Hot Water Heater (2021). HARDWOOD FLOORS (2017) in WHOLE home. The main level features include an open, flowing floor plan, ALL Hardwood Floors, in the whole home, formal dining and living rooms, inviting family room with gas fireplace. Kitchen has NEW QUARTZ Countertops, NEW Base Cabinets. ***** USP # 17 : Big Breakfast area, due to BUMP-OUTS. Upper level has 5 SPACIOUS BIG Bedrooms & 3 FULL Baths. Fully Finished walk-up basement, has Near-New LVP with BIG recreation area, FULL bath, bedroom, COMPLETE KITCHEN, with Near-New Samsung Dishwasher is stainless steel outside AND INSIDE. Plenty of storage. Ceramic Tiles in Basement Kitchen. ***** USP # 18 : Upstairs Bathroom renovated in 2024. ***** USP # 19 : 10 Photos are VIRTUALLY STAGED for Owners Bedroom, Childrens Bedroom, Family Room, Formal Dining Room, Living Room, Basement Recreation Room, Basement Bedroom, Patio, Deck
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.
