As soon as you turn onto the extra-long driveway and see this beautiful home nestled on its large acre lot, a sense of peace just washes over you. You'll be drawn in by the elegant yet welcoming facade, with a spacious three-car garage and perfectly landscaped yard, setting the stage for what's to come. It’s a home that feels like it’s miles away from everything, but is so conveniently located just 10 minutes from charming downtown Monroe with all its wonderful restaurants and shops. Along with easy access to both Highway 78 and Highway 316. Step inside this generous 2501 square foot home and discover the true heart of the house—the open-concept living room and kitchen. The space is filled with natural light and designed for gathering. The cozy living room centers around a stunning brick gas fireplace, beautifully flanked by shiplap, built-in cabinets, and custom shelving that are just begging to be filled with your favorite books and family photos. The kitchen is a true showstopper. With a large island and stunning stone countertops, it’s a space where you'll want to linger, whether you're preparing a meal or having a casual chat over coffee. This home is truly designed for modern living, with every detail thoughtfully planned. The primary bedroom on the main floor is a private oasis, offering plenty of room to unwind and recharge. And with two additional bedrooms and baths, there's space for everyone to feel right at home. But the real surprise is the upstairs bonus room with its own full bath. This flexible space is a blank canvas just waiting for your personal touch—imagine a home theater, a craft room, or a private guest suite! Outside, the living continues. The covered back patio, complete with a brick-surround gas fireplace, is the perfect spot for entertaining or simply enjoying the tranquil scenery. You’ll love the peaceful view of the fully fenced backyard, which is a gentle, grassy expanse perfect for play, gardening, or just enjoying the outdoors. This home offers the perfect blend of charm and modern convenience. It’s not just a house; it’s a lifestyle. I'd love to see what family makes this place their own! This property is also available for rent at $2,750 per month. Rent-to-own options are available.
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.
