** Back on the market at no fault of the seller ** Must-see home in the desirable Chestnut Lake community, offering space, privacy, and exceptional flexibility. Situated on a .88-acre wooded lot with a creek, this well-maintained residence provides room to spread out both inside and out. The main level features 3 bedrooms and 2 full bathrooms, an open kitchen with dining area, and a comfortable family room ideal for everyday living. The primary suite includes three closets and a private bath with a walk-in shower. The walk-out lower level feels like its own private apartment, making it ideal for an in-law suite, guest quarters, or multi-generational living. This level includes a large den with a wood-burning stove, a bedroom with full bath, and a flex room that can easily serve as a 5th bedroom, home office, study, or craft room, along with a separate exterior entrance and access to an additional patio area. Step outside and enjoy your own private retreat—relax by the in-ground pool, entertain on the spacious backyard deck, or unwind beneath the pergola surrounded by nature. The partially fenced backyard also includes a storage shed, blueberry and fig bushes, and plum and mulberry fruit trees. Additional highlights include: - Pool liner replaced in 2024 (pool vacuum hose, brushes, safety cover, and chemicals convey) - Gas furnace replaced in 2019 - GE electric range and primary bath shower updated in 2018 - Solar panels, gutter guards, and extra parking pad - Garage storage room - Pantry cabinet with swing-out storage - Corian countertops in the kitchen - Security cameras at the front of the home convey This property is being sold as-is and offers an exceptional opportunity for buyers seeking space, privacy, and flexible living options. Schedule your showing today—this Chestnut Lake gem truly lives larger than it looks.
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.
