EXPERIENCE ONE-LEVEL LIVING IN THE CITY OF ROME IN THIS RECENTLY RENOVATED RANCHER! Nestled just minutes away from the vibrant heart of downtown Rome, this elegantly remastered gem has been transformed inside and out with high-quality finishes and modern aesthetics. From the front porch, guests are welcomed into the main entry to be greeted into the OPEN-CONCEPT footprint with handsome, yet durable SOLID SURFACE FLOORING THROUGHOUT, and a neutral palette. The SPACIOUS LIVING ROOM, complete with RECESSED LIGHTING, seamlessly flows into the WELL-APPOINTED KITCHEN, featuring: GRANITE COUNTERS, met by SUBWAY TILE backsplash; STAINLESS APPLIANCES, including flat-surface range towered by vent hood; FLOATING DISPLAY SHELVING; and RAISED BREAKFAST BAR seating. The home’s laundry facilities are located just off of the kitchen, and there is ample space to add a future island, if desired. The PRIMARY SUITE boasts TWO CLOSETS, and opens to its PRIVATE ENSUITE. The secondary bedrooms flank a JACK-AND-JILL BATH, and both full bathrooms include tub/shower combinations with gorgeous TILE SURROUND, featuring recessed product nooks. Completing the floor plan is a centrally-positioned POWDER ROOM for guest use. The BACK DECK is a superb venue for grilling and entertaining, and overlooks the backyard space, complete with 24x24 GARAGE/WORKSHOP with electricity, roll-up door, and service door. This beautiful home underwent an extensive renovation within the past 5+/- years, with ALMOST EVERYTHING NEW: Architectural-shingled roof; Cement siding; Windows; HVAC; Water heater; Plumbing; Electrical; and more! If you are looking for a MOVE-IN READY HOME that perfectly blends style and comfort, this property checks all the boxes! Best of all, its convenient location is easily accessible to schools, shopping, dining, and medical. NO HOA! Welcome Home to 1901 Hull Avenue!
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.
