Look No Further! This Stately 2-Story Home sits on 3+ acres in the prestigious Forest Hills Subdivision. The In-Ground Pool boasts an incredible, fenced patio area and offers some of the best sunsets in Franklin County! The mature trees welcome you to the property while the sprawling front porch leads you into the 2-Story Entry Foyer. You'll be blown away with the grand design of this home with formal dining off foyer, 2 story balcony opening to foyer, and breaktaking Great Room fireplace with incredible wall of windows. The main floor offers some formal design features while still offering an open feel as the Great Room, Breakfast Area, and Kitchen are all connected with access to the pool, patio, and hot tub area. The Kitchen features an island, sink window, large pantry, stainless steel appliances, and solid surface countertops. Located on the main floor, the Primary Suite features a large walk-in closet and suite bathroom with double vanity, soaking tub, and walk-in shower. Upstairs you will find the balcony which connects the 3 additional Bedrooms, Full Bathroom, and additional Living Space or Bonus Room. The Home offers a large Attached Garage in addition to the detached garage, and both are heated & cooled. Full Home Security System. So Many Updates in this well-maintained home. Oh, Did we mention the Backyard Oasis with Fenced Patio, In-Ground Pool, and Large meadow Area?! Yeah, Don't Hesitate on this Custom Home and Schedule Your Personal Tour 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.
