Welcome home to this completely fenced 1.18-acre lot featuring a spacious, over 2,100 sq ft manufactured home that has been thoughtfully updated with a new roof, fresh exterior paint, and an HVAC system replaced in 2020. A large steel-framed carport with metal siding offers extra height and depth, making it ideal for protecting vehicles, trailers, boats, or any other valuable equipment from the elements. An outdoor shed adds even more storage, keeping your tools and belongings organized and out of sight.Step inside to find a bright and welcoming living room at the heart of the home--perfect for relaxing with friends and family or enjoying your favorite shows and movies. From this central space, you'll have access to the primary bedroom, a bonus room, the kitchen, and the formal dining area. The kitchen is both functional and spacious, featuring ample cabinetry, an island, and a breakfast baroffering more than enough room for cooking, prepping, and storing all your kitchen essentials. This home is designed with flexibility in mind. In addition to the formal dining room and breakfast bar, there's a breakfast nook and another dining area just off the kitchenideal for converting into an office, hobby room, or den if needed. The primary bedroom is generously sized to accommodate all of your bedroom furniture and includes an en-suite bathroom with a soaking tub, separate shower, and dual vanitiesperfect for starting or winding down your day in comfort. Three additional bedrooms provide plenty of space for family or guests, and the guest bathroom features a tub/shower combo and large mirror for added convenience. Whether you're a gardener, have animals, or simply want room to spread out, this property gives you the space to create your ideal outdoor lifestyle. With room to roam and all the essentials already in place, this home is ready to meet your needs now and grow with you in the future.
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.
