Find your next home - A beautiful quad-level home nestled between Rt 30 and Rt 6, making travel a breeze! Step through French style front doors (or come in from your attached, heated, 2.5 car garage in those winter months) into the foyer that introduce the living, kitchen and dining rooms. The stairs will lead you either up to the 2nd floor (3 bedrooms and shared master bath) or down to the Lower Level Family Room. In the heart of the family room you will find a gorgeous fireplace! (Wood and gas starter). And you will find a second full bathroom as well. Down one more set of stairs you will find a finished basement with your laundry and utility rooms with plenty of storage space. From the Kitchen you can step out into the screened in porch and beautiful back yard - containing 6 boxes for square foot gardening (A gardeners dream)! In your home you will find modern lighting and ceiling fans throughout. You'll take some comfort in the following updates of the home: Water Softener - 2026 (currently being serviced) 2 Sump Pumps w/back up batteries - 2025 (last serviced) Water Heater - 2025 A/C - 2025 Furnace - 2011 Bathrooms - 2024 Windows - 2018 Screened in porch and windows - 2014 Roof - 2013 Kitchen Remodel - 2007 Laminate Flooring and Carpet in Main and LL - 2014 Newer Carpet in Master and 2nd Bedroom DNI Electronics Alarm System Solar Panels installed in 2021 - transferable to new owner. So, what are you waiting for?
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.
