Tucked near the back of Ridge Hill Trails on a quiet cul-de-sac with minimal traffic, this two-story home with a walk-out basement sits on just over half an acre, giving you plenty of room to spread out and entertain. Inside, multiple living areas offer the flexibility to make the space your own. A formal living room and separate dining room provide elegant space for entertaining, while the vaulted family room impresses with exposed wood beams, a brick fireplace, and built-in shelving, the perfect spot to unwind. The kitchen is bright and functional with white cabinetry, a tile backsplash, a peninsula with bar seating, and a charming coffee bar nook tucked behind a sliding barn door. The primary suite is a true retreat, generously sized with three windows that fill the room with natural light. There's plenty of space for a sitting area, and the layout offers room to spread out and relax at the end of the day. With four bedrooms and four bathrooms, including two full baths upstairs and half baths on both the main level and in the basement, there's room for everyone. Step outside to the deck off the dining room overlooking the spacious backyard, complete with a basketball court and a firepit patio surrounded by natural stone retaining walls below. The walk-out basement opens right out to that lower patio, giving you even more living and entertaining space. Homes like this on quiet cul-de-sacs with this much space don't come around often. Schedule your showing today!
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.
