Discover a roomy and well-designed 3-bedroom, 2-bath home with a layout that truly works for a variety of lifestyles. Outside to a covered back patio and a fully fenced backyard wrapped in a 7 foot metal privacy fence. Parking and storage are a standout feature here: an attached two-car garage, a gated one-car carport with alley access, and the true gem an impressive 20x15 garage workshop right off the alley. This space is insulated, equipped with both 220 and 110 power, and features a roll-up door, making it perfect for vehicle storage, woodworking, mechanic projects, or any hobby that needs room to spread out. Inside, you’ll find two separate living areas one at the front of the home perfect for a home office, library, playroom, or hobby space, and another at the back featuring a built-in bookcase and a cozy, relaxed feel. A large dining area connects both living spaces, offering plenty of room for gatherings and everyday meals. The kitchen opens to the back living room through a half wall with a convenient breakfast bar, ideal for serving or casual dining. You’ll appreciate the double oven, electric cooktop, and textured tile backsplash that add both style and function. One bedroom and a full bath sit on the main level, while upstairs includes two oversized bedrooms, a second full bath, and extra hallway storage. This home features a solar energy system under a Power Purchase Agreement (PPA), giving you the financial advantages of solar power without the upfront cost or long-term equipment responsibility. With a PPA, you don’t buy or finance the panels—you simply pay for the electricity they generate, often at a rate lower than the standard utility price. This allows you to enjoy immediate monthly savings while reducing your overall energy expenses. If you’re looking for flexible living space, excellent storage, and a workshop setup that’s hard to find in this price range, this home is ready to deliver.
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.
