If you've been searching for a place where you can spread out, grow your own food, collect fresh eggs in the morning, and still be just minutes from town, this is it! Situated on a half acre lot with no HOA, this 3 bedroom, 2 bath ranch style home offers the kind of freedom that's getting harder to find. Inside, the open living, dining, and kitchen areas create a comfortable gathering space that's perfect for everything from weeknight dinners to hosting friends. Need room to work from home? The garage conversion has been transformed into a huge office space with plenty of room for multiple workstations, a creative studio, or a home based business. Step outside and you'll quickly see what makes this property so special. There's room for a large garden, a chicken coop already in place, and a spacious shop with electricity ready for projects, storage, equipment, or your next big idea. Whether you're dreaming of a more self sufficient lifestyle or simply want room to enjoy the outdoors, the possibilities here are endless. As an added bonus, the detached 1 bedroom, 1 bath apartment that offers excellent income potential as a rental, guest space, or private retreat. You'll also find a charming two story playhouse that adds character and a little extra magic to the backyard. The property is served by a private neighborhood water system, offering the convenience of reliable water service without the higher costs often associated with city utilities. The best part? You get all this space and flexibility without feeling isolated. Hospitals, shopping, restaurants, and everyday conveniences are just minutes away. Properties that offer this much versatility, income potential, and room to live the way you want don't come around often. Come see why this one feels like home the moment you pull in the driveway. Make this home yours!
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.
