This Desirable Halsted model home was freshly painted (11/25) in nice neutral colors and is move-in ready! LVP flooring on all of the main level (04/24). Spacious kitchen has quartz countertops (04/21), along with under mount kitchen sink and a center island (w/power) which makes for great working space when preparing meals, and add'l seating. There is a walk-in pantry w/organizer. All new SS Appliances (07/25) are included. Open concept living area allows for flexibility for your needs. Brand New carpeting on stairway and upstairs bedrooms including the loft. Ceiling fans in all rooms including Loft. Wired home network. There's a mud room and storage area that comes off of the garage. The Primary Suite has a nice size walk in closet. The two other bedrooms have walk-in closets. Primary bathroom has Quartz Countertop w/double sink and a walk-in shower. Both Full Bathrooms have new tile flooring. Spacious 13x10 loft. Laundry room located on the 2nd level. No SSA tax. The garage is finished and has storage rack. Beautifully maintained yard and landscaping. Backyard is fenced and includes Stamped concrete patio (8/21) with 6-person Hot tub (11/21), as well as a vinyl shed. Great for entertaining or just relaxing. This home is in Parkside Community at Cambridge Lakes. Amenities include: Club house, Charter school, Community center, Fitness center, gym. w/ basketball court, outdoor pool, biking/walking trails, and so much more. Don't Miss this gem!.
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.
