3% Assumable Mortgage!! Experience true Colorado acreage living in this rare Foxfield retreat, perfectly set up for animals, gardening, and outdoor fun on over 2 acres in a gated, highly coveted neighborhood within Cherry Creek Schools. With 3 bedrooms plus a versatile loft, 3 bathrooms, and approximately 2,800 square feet, this home offers a flexible floorplan that can easily accommodate multigenerational living, guests, or an income-producing suite. Inside, an open great-room layout with vaulted ceilings and abundant new windows fills the home with natural light and frames peaceful mountain views. The loft functions beautifully as a living space, office, and bonus room, while the thoughtfully designed primary suite can serve as an income producing suite or private mother-in-law suite, built for wheelchair access. Extensive updates make this property easy to maintain and enjoy: a new stone-coated metal roof with a 50-year warranty, new windows throughout, a new well head, and newer pool plumbing and equipment. With no water or gas bills, you can embrace acreage living with significantly reduced monthly expenses. Outside, the fully fenced 2.3-acre lot (about 1 acre privacy fenced) is a dream for animals and hobbies. An enormous 1,800 sq ft garage offers space for multiple vehicles, toys, and a workshop. Plenty of space for RV parking. You’ll also find a 120 sq ft pool shed with electric set to install, plus a 120 sq ft chicken coop with an attached 400 sq ft enclosed run. An inground pool with slide, A fenced raised garden area and fruit trees create a mini homestead—bring your Domestic farm animals limited to horses, pot belly pigs, goats, sheep, donkeys and mules, llamas and alpacas, rabbits, fowl and bees and enjoy the best of Colorado country living just minutes from shopping, dining, and major commuter routes. Did we mention taxes are lower here?
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.
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