Beautiful ranch style home in the established Ferry neighborhood! With a circular driveway, freshly painted exterior, manicured landscaping, and NO HOA. This well maintained and recently updated 3 bed 1 bath concrete block home is turn key! With many improvements such as A/C, double pane windows, tile flooring, and a newer water heater. Upon entering an ample foyer awaits you. With an appealing floor plan that includes a den, warm inviting colors, and a comfortable lay out. The living room is ample and can easily fit your sectional. That Segways into the lovely dinning area with built in shelves and a sitting niche. From there is the galley-way kitchen which has maple colored cabinets, sparkling granite countertops, SS appliances, and a shelving pantry. The rooms have fresh new carpet, fans, security bars, and plenty of closet space. The fully remodeled bath is a modern relaxing oasis where you can unwind in.. Enjoy your Fully finished attached outdoor office with laminate flooring, LED lights, window, and a new mini split for project or working from home. Host your guests in your large yard, and BBQ in your new metal ramada. Store all your toys in the well built tall shed and keep an eye out for those gorgeous sunsets.. Be walking distance from freedom park, and only a few minutes drive to DV AFB, park place mall, the freeway, zoo, golf, and plaza. Don't let this gem pass you by and make it yours TODAY!
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.
