Beautifully cared for & updated brick ranch home in a popular subdivision with homes spaced out on large lots. This home is perfect for entertaining with an open concept floorplan. The large great room, breakfast room and kitchen are all connected with a separate den or study for more intimate conversations or smaller groups. Double entry door opens to foyer area w/coat closet. Real wood floors carry from Great room down the hallway & into the 3 bedrooms. Huge great room has new patio slider door w/blinds inside that leads to a parklike backyard. Enjoy sitting under the covered patio watching nature in the common ground area that you can enjoy and won't have to maintain. Kitchen is updated w/Luxury vinyl plank flooring, breakfast bar, natural stone backsplash, stainless steel appliances including 6 burner gas range, dishwasher & hood that vents to outside. You will love cooking in here w/lots of counter space, newer lighting, white cabinets, open floating shelving & walk-in pantry w/organizing system, that can be converted back into a main level laundry/mud room, near the 2 car garage entry and stairs to LL. Primary bedroom has 2 closets and on-suite full bath. Neutral paint throughout home, new ceiling fans, lighting. Hall bath is recently updated w/ceramic tiled surround to bath/shower, adult height vanity w/granite top. Home has bread new roof 2025, 2-car side entry garage w/long driveway for plenty of parking and full basement waiting to be finished to your plans. You will find plenty pf space tp spread or grow with nearly 1600 square feet on the main level alone. Home qualifies for special financing and credits!
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.
