Owned and lovingly maintained by the original homeowner, this property offers space, flexibility, and unique value that's hard to find in today's market. This 5-bedroom, 3-bathroom home in the heart of Brownsburg has quietly waited for just the right buyer... Sitting on a nearly quarter acre lot next to a beautifully maintained community green space on one side and a vacant lot on the other, you get the feeling of a much larger yard-without the upkeep! This homesite offers the privacy and elbow room that's often missing in many subdivisions. Located in one of Hendricks County's top-rated school districts and just minutes from Crawfordsville Road, this home offers unbeatable access to local parks, dining, and entertainment. Inside, a two-story foyer sets an airy and welcoming tone. The main level is thoughtfully laid out, with two large flex spaces flanking the entry that can serve as a formal dining room, sitting area, living space, or playroom. The rear of the home opens into a warm and inviting living room with a custom wood-burning fireplace framed in imported stone. The kitchen features a center island with a breakfast bar and casual dining area that leads out to your private backyard oasis. Enjoy a fenced yard with an open patio, a covered deck, and a custom matching shed on its own foundation-complete with service and a garage door and a secondary fenced area perfect for pets or hobby space. Also on the main floor is a full bathroom and private office (or possible 6th bedroom), ideal for guests or multi-gen living. Upstairs, the expansive primary suite boasts dual vanities, dual walk-in closets, walk-in shower, and a soaking tub. Four more bedrooms and another full bath round out the upper level. This home has been waiting-and so have you. Don't let this rare combination of space, privacy, and location slip by again. Schedule your private showing today and see the opportunity everyone else missed!
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.
