A better option than a new build! Skip the wait and the builder’s "to-do" list—this home is move-in ready with completed improvements including Survey and title work, for a quick, seamless close. Unlike many new builds, this home already includes fencing, gutters, drainage improvements, a screened outdoor space, mounted televisions, and smart home technology, saving the next owner the time and expense of adding them later. Welcome to this impeccably maintained 3-bedroom, 2-bath retreat offering 1,469 sq. ft. of move-in-ready comfort. Ashland Heights welcomes you. This home features extensive, thoughtful upgrades designed for modern living. The open-floor plan centers around a chef-ready kitchen featuring an updated faucet and a premium 25.6 cu. ft. Frigidaire refrigerator. The living spaces are tech-forward with remote access to climate control, boasting an Eco bee premium Programmable Smart Thermostat, a Ring doorbell, ADT security system installed, and four new ceiling fans. Best of all, you can cancel the movers’ TV setup—three mounted smart TVs (up to 65”) stay with the home. The outdoor living space truly outshines the competition. Relax on the enlarged screened-in back porch featuring stained concrete or enjoy the sodded yard maintained by a Rain Bird irrigation system. The property is fully secured by 6’ privacy fencing with gates on each side. Professional French drains and gutters ensure total peace of mind. Even the garage is optimized with a ceiling-mounted storage shelf and a whole-house shut-off water valve. So much more to discover. Why try to keep up with the Joneses when you can leapfrog them? Book an appt today and discover what awaits you. The seller is even offering buy-down rates or closing concessions (your choice) to make this deal even sweeter.
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.
