Major Price Adjustment! New Water Heater & Top-Rated Schools – Motivated Seller Relocating! Don't miss this incredible opportunity! A major price reduction brings this beautifully designed 4-bedroom, 2.5-bath two-story home within reach of savvy buyers. With a brand-new water heater installed and located in a highly sought-after school district, this property offers exceptional value and immediate peace of mind. Priced to reflect its current condition and sold as-is, this home is the perfect canvas for buyers ready to personalize their dream space while securing instant equity. Step inside to a classic, functional layout featuring a formal living room and formal dining room, ideal for both intimate family dinners and grand entertaining. The heart of the home is the spacious kitchen, boasting sleek granite countertops and ample cabinetry that flows seamlessly into the main living areas. Upstairs, escape to the extra-large primary suite, a true retreat complete with a spa-style bath (separate soaking tub and shower), a spacious double vanity, and generous walk-in closets. Three additional bedrooms offer flexibility for growing families, guests, or a dedicated home office. Key Highlights: * Brand-New Water Heater: No immediate hot water costs or worries. * Top-Tier Schools: Located in a premier school district perfect for families. * Instant Equity: A rare chance to buy below market value in a competitive area. * Move-In Ready Core: While sold as-is, the major systems are fresh, and the layout is timeless. This is a rare chance to secure a well-sized home in a prime location at a compelling price. With the seller relocating out of state, motivation is high. Schedule your showing today before this opportunity disappears!
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.
