Bring your horses and cows! You will love this well laid out 37-acre property with a nicely updated move in ready house with barn, shop and hay shed. The house is 2800+ sq with 4 bed-3 baths. The primary suite is downstairs with updated bath, dual walk-in closets, and direct access to the back patio. Generously sized Secondary bedrooms with full bathroom. Upstairs, estimated 500sf suite with private bath and reading or entertainment nook. All bedrooms have nice sized walk-in closets with ample storage throughout the home. The kitchen is a chef’s dream with a main sink and an island prep sink, granite countertops, double oven and smooth cooktop. There is plenty of seating at the bar overlooking the kitchen, in the nice-sized breakfast nook overlooking the backyard or in the dining room with a view of the pastures out front. The fenced in backyard will keep your pets close as well. Class 4 roof with 30 yr warranty installed December of 2024! Outside there is a 40x50 ft metal shop built in December of 2023 with 2- 12 ft roll up doors, a half bath, and is fully spray foam insulated. There is also a 12x40 ft hay shed built in January of 2025. The barn is a horse lovers dream and is 36x78 ft and has 8 stalls, one of which is a 15ft foaling stall. 4 of the stalls run out to nice sized paddocks. Inside there is a 12x12 ft feed room, 12x12 ft wash rack, and a 12x27 ft newly renovated tack room with full bath and stacked washer and dryer. Use it as a tack room or easily convert it to a studio apartment! RV hookup outside the barn. The paddocks open to three separate pastures to make it easy to rotate livestock. There are also gates between all pastures. Seasonal tanks that usually maintain water are in two of the three pastures. There are multiple spigots throughout the property and in the pasture. There is also a 14 acre hay field that can produces between 75-100 round bales per year!
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.
