Living on a court in Paris Estates means it's naturally quiet, but the truth is, the whole neighborhood has a relaxed, friendly feel to it. This home was built in 2022, so everything is still fresh and updated. You've got LVP flooring, quartz countertops in the kitchen and bathrooms, and the added benefit of a whole-home water softener already installed. Even the garage is set up as a great flex space, featuring an epoxy floor and a dedicated heater for year-round use. The backyard is a great size with plenty of room for pets or play without being overwhelming, and it's already fully privacy fenced. Relax or entertain with the large covered patio, and because the HOA handles the lawn care, you get the outdoor space without the weekend chores. What really sets this property apart is the location. You're right off I-65, which makes for an easy 25 minute drive to downtown Indianapolis. Locally, the neighborhood backs up to Hillview country club, and you're just a few minutes from the heart of Downtown Franklin. Franklin is a town that truly has a personality, with a vibrant downtown full of fun locally-owned businesses like the Willard, The Foundry, and Main and Madison. Between the Historic Artcraft Theater, 10 Pins, the Franklin Aquatic Center, and the Amphitheater at Young's Creek Park, there's always something to do. The community calendar is packed year-round with favorites like First Fridays, the Farmers Market, and iconic events like the Firecracker Festival and the Franklin Holiday Lighting and Winter Market. This home is a low maintenance, move-in, ready home in a town that offers the best of a small town life with big city access.
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.
