Welcome Home to this impeccably maintained and cared for adorable single story house! Built in 2022, the open floor plan is an entertainer’s dream come true, ready for all of the family and friends get togethers! Inside this picture perfect home there is all the modern upgrades plus everything you have ever wanted…an oversized laundry room full of built in storage, comfortable bedrooms for the entire family, recessed lighting, durable LVP flooring, a kitchen pantry, air conditioning, a huge 12 foot long island for the whole family, tons of windows for natural light, a whole house water filter, leased solar, and a tankless water heater! In the master bedroom, you will enjoy a huge walk-in closet with built in shelving and a dual bathroom vanity! Outside, the upgrades don’t stop! Boasting one of the largest lots in the community, the backyard is a dream come true! Cement patio with gorgeous patio cover with fans, pet and child friendly turf that doesn’t get hot, automatic sprinkler system and timers installed, and raised flower beds with climate friendly trees and plants that are ideal for the weather. On the patio, there is room for a dining table, couches for relaxing and reading a book while the kids play, hosting parties, or growing your own garden. This backyard is ready for it all! Situated on a quiet, family friendly cul-de-sac, the well-established community comes with a beautiful pool, a gated kid’s playground, a firepit area, walking trails, a community clubhouse and a cornhole area for hanging out with friends!
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.
