Better than new and filled with thoughtful upgrades, this 2022 Main Street Homes beauty offers easy, comfortable living in one of Chesterfield’s most sought-after communities. Incredible amenities, local conveniences and Chesterfield schools define this area and encourage pride in ownership. A few highlights: ENERGY STAR HOME! Lovely LVP flooring throughout the 1st level, charming patterned tile in all bathrooms, leathered granite/custom backsplash & lighting package, custom closet shelving, gorgeous custom landscaping surrounding the home, fenced rear yard and adorable interior pet door, 2026 lawn treatment & irrigation updates, additional stair railing, plantation shutters & tricked out garage with painted drywall/epoxy-coated floor & overhead storage. Designed with everyday, but elevated, living in mind, the living areas offer generous room to move while still being cozy. The kitchen is the star, featuring leathered granite, custom subway backsplash & gas range. The first-floor primary suite features a stunning ensuite bath, while an additional main-level bedroom or office provides flexibility for guests or working from home. The spacious laundry room, even equipped with a charming pet door, adds convenience to daily routines. Upstairs, a welcoming flex space, private bedroom, and full bath create the perfect retreat for visitors or hobbies. You'll also find two walk-in attic areas for exceptional storage. Outside, the landscaped yard showcases native perennials, creating a charming and low-maintenance outdoor space to enjoy year-round. You'll love the privacy and peacefulness offered by the wooded rear border and there's even a fence for your furries. Warm, inviting, and meticulously maintained, this home will feel like yours from the moment you walk in. All systems 2022. Water heater is tankless. Seller's current lawn care specialist is local to the neighborhood and she is happy to share that contact. Seller requests a longer escrow period and potential rent-back.
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.
