* VA Assumable at 3.625% * Welcome home to your 5 bed/2.5 bath upgraded move in ready home with a two-car garage, a work area, and an extended RV garage with a Rotary brand two post lift rated at 10,000 pounds, with extra height. Garages are insulated, air conditioned and have extra room for storage. From the front porch through the custom metal security door, you'll find storage throughout the home. A main-floor bedroom/office, large open-concept floor plan, a kitchen with custom cabinets, granite counters, beautiful backsplash, walk-in pantry with outlets, large island with seating, RO system, wired Ethernet plugs throughout, two separate ISP fiber options in the neighborhood, neutrally painted, tile flooring, carpeting, and large windows with blinds throughout to bring the outdoors in Upstairs you'll find 4 additional bedrooms, 2 full bathrooms, laundry room, and a media loft area. You'll find everything from custom cabinets and flooring, utility sink and another large walk-in closet for storage in the laundry room. Primary bedroom suite is highlighted with a large walk-in custom tiled shower, with both a handheld and rain shower head and a bench. Extra-long bathroom cabinets/counter with dual sinks and extra drawers, a linen closet, private toilet room and a huge walk-in closet with custom shelving with multiple levels of storage and drawers. Bedrooms 3, 4, and 5 are larger rooms with ceiling fans, carpeting and two with large walk-in closets with custom shelving. Full bathroom with shower/tub, dual sinks and linen closet. The finished backyard includes synthetic grass, perimeter pavers for added design and fun, gazebo, extended covered patio with dual ceiling fans, power outlet and CatV jack for TV, gas stub for a built in BBQ, and additional pavers on each side of the home along with desert design landscaping and automatic watering system in the front yard. This home was built on the premium elevated corner lot with convenience, storage, quality and upgrades throughout. Welcome Home! Please see document tab for a list of extensive upgrades.
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.
