**OPEN HOUSE - Sun, Mar 8 from 1:00 PM - 4:00 PM** Seller has an assumable VA loan at 2.25%. Reach out to listing agent for details! Welcome to this spacious three-level home offering over 3,600 square feet of comfortable living in the highly sought-after Montclair Community, a neighborhood known for its resort-style amenities and vibrant lifestyle. The main level features an inviting layout perfect for everyday living and entertaining, complete with a convenient half bathroom and a kitchen equipped with a gas (propane) stove for those who love to cook. Upstairs, you will find four generously sized bedrooms and two full bathrooms, providing plenty of space for family, guests, or a home office setup. The upper level also features a dedicated laundry room for added convenience. The lower level offers even more flexibility with a fifth bedroom suite complete with a full en suite bathroom, plus a second laundry area, making this home ideal for multi-generational living or extended guest stays. Major updates provide peace of mind, including a new water heater installed in November 2024, windows approximately 7 years old with a transferable warranty to the new owner, and a roof approximately 13 years old. The washer and dryer were installed approximately 6 years ago. The entire home has been newly renovated inside and out, including Hardie board siding, new gutters and downspouts on the front porch, and a new fence. A two-car garage adds everyday convenience and extra storage, while the home’s three finished levels offer exceptional flexibility to fit your lifestyle needs. Living in Montclair means enjoying an unmatched array of amenities, including indoor and outdoor pools, a private lake with beach access, boat ramp, pier and dock, golf course and golf club, tennis and basketball courts, dog park, tot lots and playgrounds, picnic areas, walking and biking trails, fitness center, community center, library, and so much more. This home combines generous living space with an incredible community atmosphere, an opportunity to enjoy both comfort and an active, amenity-rich lifestyle.
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.
