Built in 1900 and reimagined for modern living with a 2,300 square foot addition in 2017, 200 Church Street is a one-of-a-kind property that looks like a charming Victorian bungalow from the street - and completely surprises you the moment you step inside. The result is a seamless blend of historic character and contemporary design that simply cannot be replicated. The foyer, bedrooms, and kitchen feature warm pecan-style flooring, while the expansive living room makes a bold statement with stained concrete floors and a modern fireplace at the end of the hallway - and another built right into the kitchen island. It's the kind of detail that stops people mid-tour. The flexible, open floorplan offers spacious living areas, two kitchens, incredible storage, and a fully secure safe room and tornado shelter - all on one level with every bedroom on the main floor. The primary suite features automated hurricane shutters, a Maya whirlpool bathtub, steam shower with radio and changing lights, and a closet fortified with 8-inch poured concrete walls - a true retreat within a retreat. Then there's the location. Situated in the heart of downtown Fayetteville on historic Church Street, you are within walking distance to the downtown square, courthouse, shops, restaurants, and the seasonal festivals and markets that make this community so special. This is genuinely walkable, intown living in one of Fayette County's most charming and actively revitalizing corridors - a rare find in any market. Step out back to a private oasis - all just steps from the energy of the city. Properties with this much history, this much character, and this much convenience don't come along often. Come see it for yourself - and give yourself extra time, because there is a lot to 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.
