Back on Market due to the buyer"s change of circumstances. Home passed all inspections! If you missed out before this is your second chance...call now! This Newer MHA-qualified manufactured home blends quality craftsmanship, modern design, and affordability. Step onto the charming covered front porch and into a thoughtfully designed open-concept layout featuring tray ceilings and a stylish, well-appointed kitchen. The interior exudes the look and feel of a traditional stick-built home, thanks to **energy-efficient windows with plantation shutters**, **waterproof hardwood laminate flooring**, and **wide base moulding** throughout. Architectural highlights include a **distinctive roofline with eaves**, a **higher-pitched roof**, and a **low-profile concrete foundation**designed for both durability and curb appeal. The **split floor plan** ensures privacy, with the **primary suite** offering a spacious walk-in closet and ensuite bathroom, while **two additional bedrooms and a full bath** are located on the opposite side of the home. Outside, youll find a **beautifully landscaped yard** enclosed by a **wrought-iron-style fence**, and a **seasonal creek** that adds a peaceful, natural backdrop to the shaded backyardperfect for relaxing or entertaining. Gardening enthusiasts will love the **raised planting beds**, and two storage sheds provide ample room for tools and equipment. This home was built in a **controlled factory environment** using advanced tools, CAD software, and precision technology. Every componentfrom **roof trusses to floor joists**was constructed to exacting specifications and subjected to **multiple inspections** to meet or exceed **rigorous HUD standards**. The result: **a durable, energy-efficient home** engineered to withstand extreme weather. The home also comes with a **transferable Care Plan Plus warranty**, offering peace of mind through **2029**. And what makes this property even more exceptional? It qualifies for **Fannie Maes MH Advantage financing**, which means access to better loan terms and affordabilityan incredible benefit for qualified buyers **Dont miss outschedule your tour today and discover why 1612 San Jose Lane is the smart choice for your next home!** Short sale: property will be sold for less than the outstanding mortgage balance. Sale is contingent on lender approval and may require extended timelines for closing.
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.
