Welcome to 209 Upper Lake Drive, a stunning custom home in the gated Beaver Park section of Woodcreek Farms. From the moment you step through the grand double front doors into the impressive two-story foyer, you are greeted by gleaming hardwood floors, heavy moldings, and quality craftsmanship throughout. Designed for both everyday living and entertaining, the home features a formal dining room with detailed panel molding and an open concept living space centered around a raised hearth gas log fireplace with built-in bookcases. The chef’s kitchen is beautifully appointed with granite countertops, tiled backsplash, gas cooktop with pot filler, walk-in pantry, and abundant cabinetry. Tucked privately at the rear of the home, the luxurious primary suite offers a spacious retreat with double tray ceilings, spa-like bath featuring a soaking tub, zero-entry tiled shower, double vanity, and an oversized walk-in closet. An additional main-level bedroom with private bath creates the perfect guest suite or potential in-law retreat. Upstairs, you’ll find two additional bedrooms connected by a convenient Jack-and-Jill bath, along with a massive bonus room over the garage complete with its own half bath. Step outside to enjoy the covered back porch and brick privacy fence, creating the ideal outdoor space for relaxing or entertaining. Additional features include 10-foot ceilings throughout the main level, tray ceilings, tall baseboards, and wood shelving in all closets and pantry spaces. Located in one of NE Columbia’s most desirable communities, Beaver Park in Woodcreek Farms offers gated privacy, a neighborhood park and gazebo, and community pond access. The community is also home to the acclaimed private Woodcreek Club golf course and host venue of the Korn Ferry Tour’s Colonial Life Charity Classic, bringing championship-level golf to the community for years to come. Disclaimer: CMLS has not reviewed and, therefore, does not endorse vendors who may appear in listings.
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.
