Perfectly positioned in Monroe's established Clearwater Estates, this immaculate traditional home offers a refined blend of classic design and modern updates, all set on a .35-acre lot with inviting curb appeal. From the moment you're welcomed inside, soaring vaulted ceilings, clean architectural lines, and a light, neutral paint palette create a sense of openness and effortless style. Laminate floors flow throughout the main living areas, complementing the home's formal yet open layout. Designed with both entertaining and everyday living in mind, this sought-after design is anchored by a formal dining room highlighted by an oversized palladium window that fills the space with natural light. The adjacent great room offers warmth and charm with the lofty vaulted ceilings and corner fireplace. The updated, galley-styled kitchen shines with quartz countertops, stained cabinets, pantry with shelving, and updated black-stainless appliance package. The kitchen effortlessly lends space to a bay window breakfast room, providing the perfect spot for casual dining with serene backyard views. The desirable split-bedroom design ensures privacy, with the owner's suite tucked away as a true retreat. This spacious haven features a lofty tray ceiling, abundant natural light, and a generous closet. The updated ensuite bath elevates the experience with quartz countertops, a dedicated vanity sitting area, and a new custom-tiled shower-to be complete with a new frameless glass door coming soon. On the opposite side of the home, the secondary bedrooms are well-sized and thoughtfully positioned, flanking a beautifully updated hall bath accented with a stylish shiplap feature wall and custom finishes. Step outside to your own private oasis-an open-air patio overlooks the fenced rear yard, complete with a sparkling above-ground pool, creating the ideal setting for relaxing or entertaining all season long. Combining timeless appeal, thoughtful updates, and a prime Monroe location, this home delivers comfort, style, and livability in one exceptional package.
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.
