From the moment you begin the drive into The Blue Ridge Shadows Community, you know you're home! But wait! Knowing that your new home is here, backing to treed common grounds is icing on the cake! Looking for a front porch to sit on? It's yours! Need enough room for the fam to spread out? It's yours! Right here! The fully fenced back yard is amazing> It backs to dense trees and then, the golf course> The chef's delight gourmet kitchen offers an oversized island, granite countertops, custom cabinetry and marble backsplash, a fabulous pantry, and Stainless Appliances [2023] which includes a GAS range>ALL Kitchen Appliances and U/L Washer and Dryer are brand new less than 4 years old> The Mudroom is the perfect addition for seamless living!>Check out the Main Level Bedroom with a Full Bath! Notice the Upgraded Lighting and Fixtures abound in this beauty, including smart plugs, locks, lights, faucets and security> No detail is overlooked! The Primary Suite is fit for a "king" with plenty of room for the rest of your furniture. The attached luxury bath has a separate tub and shower, and of course, Dual Vanities, Dual Walk-in Closets, and a Private W/C with a Window! The Office/Loft on the Upper Level is steps away, as is the Upper Level Laundry—convenience beyond measure!>All bedroom sizes are perfection personified!> You haven't seen it all yet!> Now check out the Finished Walkout/up Lower Level Rec Room/Gaming Room with Full Bath plus amazing storage > Two gaming TVs will remain >NOTE: RARE two HVAC Units in this home assures the upper level is cool and comfy in the heat of summer> Spectacular location with Blue Ridge Views, Easy Access to multiple outdoor activities, including the award winning Golf Course, great shopping, plus Short Drive to I-66 and I-81> What's not to love? See it 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.
