This immaculate, move-in ready home offers a perfect blend of style, space, and functionality. Upon entering, you will immediately notice the beautiful Luxury Vinyl Plank flooring that extends throughout the main living areas. Just off the foyer, french doors open to a private office. Continuing toward the back, you will find a formal dining room detailed with crown molding, chair railing, and picture molding. The heart of the home features a massive open floor plan where the spacious family area seamlessly connects to the eat-in kitchen. Designed for easy hosting, the chef's kitchen comes fully equipped with granite countertops, a tile backsplash, recessed canned lighting, and an expansive island with extra seating. The beautiful cabinetry includes crown molding and above-cabinet display space, while the stainless steel package provides a smooth-top electric range, dishwasher, and built-in microwave. The adjoining breakfast area, complete with a glass door and an abundance of windows, fills the space with natural light. Upstairs, the expansive primary bedroom includes a ceiling fan and a large walk-in closet, complemented by a luxurious en-suite bathroom boasting a dual sink vanity, a soaking tub, and a separate shower. The second floor also features three additional bedrooms with ceiling fans, a full hall bathroom with a tub/shower combo, and a generously sized loft that serves perfectly as a media room or play area. Outdoor living is a true highlight of this property. Enjoy bug-free evenings on the screened porch with its own ceiling fan or entertain guests on the adjoining deck and patio. The expansive privacy fence is great for children and pets, while a dedicated greenhouse offers a wonderful space for both your favorite plants and extra storage. Complete with a wide driveway for ample off-street parking and a two-car garage for weather protection, this home is ready for you to settle in and enjoy.
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.
