Welcome home to 185 Hopewell Dr., a stunning, contemporary end-of-row townhouse in the highly sought-after Charlestown Crossing community. A charming front landscape, tree lined street and a community pergola frame this beautiful townhome! As you step through the front door, you’re immediately greeted by a bright and inviting entryway. The first room you encounter is a flexible space—perfect for entertaining, use as a family room, home office, at home gym, etc. It’s a versatile area that adapts to your needs. Next is the coat closet, an additional bonus/storage room that is plumbed to add a powder bathroom, and the laundry area with included washer and dryer. The utility closet and the 2 car garage interior entry door complete this level. As you continue upstairs, the home opens up into an expansive open-concept living area with a convenient half bath on this floor. The eat-in kitchen is sleek and modern with stainless steel appliances, stone backsplash, quartz counters, large pantry, and two islands, one a central island that’s perfect for meal prep or casual gatherings. The adjacent dining area provides ample space for family meals or entertaining. Head through the sliding patio doors to enjoy your morning coffee while relaxing on the rear deck. Moving to the upper level, the private areas of the home are found. The spacious owner’s suite is a true retreat, offering TWO large walk-in closets, a sitting area and a large en-suite bath with soaking tub, large stall shower, huge counter and vanity. Down the hall, you’ll find two additional rooms for use as secondary bedrooms or office space, and a second full bath. This meticulously maintained contemporary home is move-in ready and designed to impress. This is your opportunity to get it before its gone!
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.
