Beautifully maintained home in the highly sought-after Meridian Oaks neighborhood! This inviting property offers a bright, open layout with spacious living areas perfect for both everyday living and entertaining. The kitchen flows effortlessly into the main living spaces and features high-end appliances, premium quartz countertops, a Samsung Family Hub smart refrigerator with built-in tablet, and a large, oversized walk-in pantry, delivering both luxury and functionality. This home offers incredible versatility with 4 spacious bedrooms, plus 2 private offices, ideal for remote work or flexible living needs. The finished basement includes a bonus room along with oversized, clean, and dry storage space, providing ample room for organization, hobbies, or additional living flexibility. Enjoy the added benefit of a robust 120% solar system, producing surplus energy beyond typical household needs. This system is powerful enough to support high-demand uses such as a hot tub and electric vehicle, and even provides the capacity to convert the home from a gas furnace to an all-electric system, offering long-term savings and enhanced energy independence. Additional efficiency upgrades include a tankless water heater, delivering endless hot water and improved energy performance. Situated on a fenced corner lot, the property offers added privacy and extra outdoor space. Step outside to multiple outdoor living areas, including an upper-level deck perfect for entertaining, a walkout covered patio, and permanent trim lighting with warranty, ideal for year-round ambiance and curb appeal. The basement also offers future expansion potential with a bathroom already plumbed for a shower, making it easy to add even more value. Conveniently located near top-rated schools, shopping, dining, and local amenities, this home offers the perfect combination of comfort, convenience, flexibility, and sustainability.
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.
