✨ Welcome to Your Dream Home! ✨This home is conveniently located off the freeway, and nearby grocery store, drug stores, and dining.In a great location for schools, and parks. From the moment you step inside, you'll fall in love with the seamless blend of modern upgrades and timeless comfort in this comforting, turnkey residence. Boasting a bright and airy open floor plan, the heart of the home features a spacious living room anchored by a cozy fireplace and a newly installed, stylish ceiling fan for year-round comfort. Sleek recessed lighting flows effortlessly throughout the entire home, leading you into a brilliant open kitchen concept that keeps you connected to guests while cooking. The kitchen comes equipped with a brand-new range hood and offers the ultimate everyday convenience of direct garage access, situated just steps away from a dedicated, separate dining area perfect for hosting memorable meals. Elegant newer French doors invite beautiful natural light inside, perfectly complementing the newer, gleaming hardwood floors that add warmth and sophistication to the living spaces. Every corner of this home has been meticulously refreshed, from the fresh paint touch-ups throughout the entire interior to the newly painted primary bedroom, which features its own newly installed ceiling fan. Perhaps the most stunning highlights are the two fully renovated bathrooms, beautifully updated with contemporary finishes to create your own private, spa-like oases. With a water heater replaced just last year, all the heavy lifting has been done for you. Combining a perfect layout, stylish renovations, and generous upgrades, this home offers a rare combination of luxury and absolute peace of mind--schedule your private tour today and prepare to fall in love
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.
