Welcome Home! Step into this beautifully maintained residence that perfectly blends classic character with thoughtful modern updates. Nestled on a quiet street, this 3-bedroom, 1.5-bath home offers warmth, functionality, and inviting spaces for everyday living. The spacious living room welcomes you with abundant natural light and newer flooring that continues into the dining area. The completely renovated kitchen showcases white shaker-style cabinetry, gleaming granite countertops, a center island with breakfast bar, and modern white appliances—ideal for cooking and entertaining alike. Enjoy the cozy family room addition, completed just three years ago, which is perfect for relaxing or enjoying movie nights. Both the main bathroom and powder room have been tastefully remodeled, with the full bath featuring stylish fixtures and a rain shower head. Upstairs, you’ll find three comfortable bedrooms and the full bath. Outside, your private fenced backyard oasis awaits—complete with an above-ground pool, pool deck, and a 12x8 Trex raised patio, perfect for summer gatherings and outdoor fun. Additional upgrades include a 1-year-old Roof with a 50-year transferable warranty, and a new heater and central air system installed in 2021. With its welcoming atmosphere, modern updates, and move-in-ready appeal, this home is truly a must-see. Call today to schedule your personal tour!
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.
