Don’t miss this exceptionally well-maintained 2004 manufactured home, perfectly situated on a paved road with a concrete driveway on a spacious 0.51-acre lot. This beautiful split-floor plan offers 2,280 sq. ft. of living space, featuring 4 bedrooms, 2 bathrooms, and a bonus/game room complete with a wet bar — ideal for a pool table, game space, or an impressive home theater. Upon entering, you’ll be greeted by cathedral ceilings, crown molding, and a cozy, wood-burning stacked-stone fireplace that anchors the spacious living room. The dining area flows seamlessly into a large kitchen boasting abundant countertop space, ample cabinetry, with all kitchen appliances included. The primary suite offers generous space with large walk-in closet, an ensuite bath featuring a garden tub. A large open area with a built-in desk and extra storage leads to the guest bedrooms, which are comfortably sized and share a full bath with a tub/shower combo. From the dining room, step into the 10' x 15' screened porch, perfect for relaxing while overlooking the above-ground pool (new pump and top railing installed in 2020), and a brand new deck completed in November. A detached 24' x 24' two-car garage provides plenty of room for vehicles, motorcycles, garden equipment, or a great workshop setup. The backyard is fully fenced and features lush green grass, a hog pen, chicken coop, and room to enjoy outdoor living. Recent updates include: HVAC with Heat Pump in 2020, drain field in 2015, a 2021 roof, and a sauna that is included with the house. This property truly offers the perfect blend of space, comfort, and country charm — ready for you to move in and make it your own.
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.
