Welcome to this impressive brick home offering beautiful curb appeal, generous living spaces, and incredible potential to make it your own. Set on a beautiful lot with a huge front yard, cozy front porch, back deck overlooking the backyard, attached two-car garage, and an oversized detached garage, this property offers the space, function, and flexibility today’s buyers are looking for. Inside, the main level features a thoughtful layout with multiple living and gathering spaces. A formal dining room is filled with natural light from surrounding windows, while the living room offers tall windows and open access to the kitchen. Toward the front of the home, an additional sitting room provides a welcoming space to relax, and an office with large windows offers the perfect setting for working from home. The eat-in kitchen is a standout, featuring stunning cherry wood cabinetry, white marble countertops, stainless steel appliances, a double sink, built-in microwave and oven, and a stovetop built into the island with seating. Through the kitchen, another sitting area overlooks the backyard, creating a warm and inviting space. The main level also includes a half bathroom, a laundry room, and a spacious first-floor owner’s suite complete with two closets and a private full bathroom featuring a double sink vanity, walk-in shower, and soaking tub. Upstairs, a grand staircase leads to additional bedrooms and flexible living space. The second level includes two bedrooms connected by a Jack and Jill full bathroom, a large bedroom with its own private full bathroom, and a bonus room. The finished basement adds even more versatility with a full kitchen, large living room space, bedroom, den, and full bathroom featuring a double sink vanity, shower/tub combo, and ample bathroom storage. This level is perfect for guests, extended stays, entertaining, or multi-generational living. With its classic brick exterior, spacious floor plan, multiple living areas, garage space, and strong bones, this home offers an incredible opportunity to enjoy a spacious and well-appointed property now while adding your own personal updates and finishing touches over time.
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.
