Welcome to 2043 Farroni Drive, a masterfully crafted residence that redefines modern suburban living. Built in 2021, this stunning single-family home combines contemporary elegance with an expansive, functional layout, offering 2,624 square feet of meticulously finished living space in the heart of Willoughby, Ohio. From the moment you cross the threshold, you are greeted by an atmosphere of sophisticated comfort. The bright, airy interior is characterized by high-end finishes and a seamless open-concept design. At the heart of the home lies a gourmet kitchen that is as functional as it is beautiful, featuring sleek custom cabinetry, premium stainless steel appliances, and an oversized center island—an ideal hub for both daily life and upscale entertaining. The upper level serves as a private sanctuary, headlined by a luxurious primary suite complete with an en-suite bathroom and a generous walk-in closet. Two additional well-appointed bedrooms and a full bath provide ample space for family or guests, while a conveniently located laundry room adds to the home's thoughtful design. The living space extends to an impressive, fully finished lower level. This massive area features a versatile family room, a sprawling fourth bedroom, and a full bathroom. With additional square footage dedicated to storage, this level offers endless potential for a private home gym, a professional studio, or a custom hobby room. Set on a substantial 9,013-square-foot lot, the property’s outdoor offerings are just as compelling. The expansive backyard looks out to the first hole of a golf course and provides a great backdrop for summer barbecues or quiet evenings under the stars. Perfectly situated in a sought-after Willoughby neighborhood, you are mere minutes from top-rated schools, lush parks, and premier shopping and dining. Experience the perfect blend of style, space, and location. Your new chapter begins at 2043 Farroni Drive.
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.
