Classic character, modern peace of mind. This refreshed Canton home in the Vassar Park area with 3 bedrooms, 1.5 baths, and a finished attic level gives you the flexible space home owners want: office, guest area, playroom, studio, or “4th bedroom” style setup. The best part: Many of the big-ticket items have been handled. Since 2022, the home has been upgraded with a newer furnace (November 2022), water heater (Early 2022), A/C system (July 2025), and water softener (December 2025). Along with fresh interior paint, refinished hardwood floors, updated lighting/ceiling fans, updated flooring in the baths/back entry/attic, and new kitchen appliances (2025, minus refrigerator). The basement is clean, bright, and usable with painted walls and improved lighting, great for storage or workspace. Outside, you get room to breathe with a second parcel that is included, expanding the yard and adding a separate 24' x 18' concrete pad ready for your next idea. A detached garage with extra storage/workshop space and an attached shed with a concrete floor round out the property. Additional notes: windows were replaced around 2010 (per seller knowledge), and the roof is estimated to be 12–14 years old (per prior inspection/owner information). This home is conveniently located just minutes from downtown Canton and Malone University, and near the future Timken Elementary (planned for Fall to start the 2026–27 school year). The home will be delivered vacant at 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.
