Assumable VA loan at 2.5% interest through PennyMac for qualified buyers meeting lender approval and entitlement substitution requirements. Custom home on 6 acres near Cooper Lake offering practical country living with flexibility, functionality, and rare financing opportunities. This newer construction home offers approximately 2,350 square feet with an open-concept layout connecting the kitchen, dining, and living areas. Tall ceilings, oversized windows, and custom wood accents bring warmth and natural light throughout the home. The kitchen features granite countertops, a farmhouse sink, large island, and oversized walk-in pantry designed for everyday living and entertaining. Upstairs includes a loft overlooking the main living area along with a separate office space ideal for working from home, hobbies, or additional flex space. Outside, the property continues to stand out with: • Approximately 500 sq. ft. of additional finished living space within the shop • Brand-new 24x30 heated and cooled garage • Barn with additional office space • Fenced acreage currently set up for goats • Room for livestock, equipment, recreation, or business use Located just minutes from Cooper Lake, the property offers convenient access to boating, fishing, camping, and hiking while remaining within reach of Commerce, Sulphur Springs, and Paris. Estimated 2025 property taxes based on current assessed value are approximately $9,351 annually before exemptions. If you’ve been searching for usable acreage, functional improvements, flexible living space, and the possibility of assuming a low-interest VA loan, this property deserves a closer look.
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.
