STEP INTO THIS ENCHANTING 3-LEVEL, 2-BEDROOM TOWNHOME WITH A FINISHED BASEMENT, TUCKED WITHIN A CHARMING COMMUNITY OFFERING WONDERFUL AMENITIES AND EVERYDAY CONVENIENCE. FROM THE MOMENT YOU ENTER, YOU'LL APPRECIATE THE WARMTH, COMFORT, AND CHARACTER THROUGHOUT. THE BEAUTIFULLY RENOVATED KITCHEN FEATURES STAINLESS STEEL APPLIANCES, A STYLISH TILED BACKSPLASH, AND ELEGANT GRANITE COUNTERTOPS, CREATING AN INVITING SPACE TO COOK, GATHER, AND ENTERTAIN. THE SPACIOUS LIVING ROOM IMPRESSES WITH A SOARING VAULTED CEILING AND A COZY WOOD-BURNING FIREPLACE, PERFECT FOR RELAXING EVENINGS OR WELCOMING GUESTS. A SEPARATE DINING AREA SITS CONVENIENTLY NEAR THE KITCHEN, MAKING BOTH DAILY MEALS AND SPECIAL OCCASIONS EASY TO ENJOY. UPSTAIRS, THE INVITING PRIMARY BEDROOM OFFERS A GENEROUS WALK-IN CLOSET AND PRIVATE ACCESS TO THE MAIN BATHROOM, WHILE THE SECOND BEDROOM PROVIDES EXCELLENT FLEXIBILITY FOR GUESTS, A HOME OFFICE, OR A PEACEFUL RETREAT. THE FINISHED BASEMENT ADDS VALUABLE LIVING SPACE AND INCLUDES A UTILITY ROOM, LAUNDRY AREA, AND ADDITIONAL STORAGE, GIVING YOU ROOM TO SPREAD OUT WHILE STAYING ORGANIZED. A RECENTLY REPLACED HVAC SYSTEM PROVIDES ADDED PEACE OF MIND. OUTSIDE, ENJOY ACCESS TO AN CLUB HOUSE, IN-GROUND POOL, TENNIS COURTS, PICKLE BALL, BASKETBALL COURTS, AND A PLAYGROUND. ALL WITHIN A DELIGHTFUL NEIGHBORHOOD SETTING. IDEALLY LOCATED NEAR SHOPPING, MAJOR ROUTES, DINING, AND EVERYDAY CONVENIENCES, THIS HOME OFFERS THE PERFECT BLEND OF CHARM, FUNCTION, AND LOCATION.
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.
