This beautiful corner lot home welcomes you with charm, space, and standout curb appeal. As you walk up to the home, the first thing you will notice is the manicured front yard and a full-view glass storm door with convenient half screen, to open and enjoy on a breezy day. As you walk into the home, you will be meet by an open floor plan with plenty of natural light. The living room and dinning room have plenty of space for the family gatherings. The kitchen features 42" cabinets, granite countertops, an ample pantry, stainless steel appliances, and beautiful backsplash. Lower kitchen cabinets include roll-out shelves, maximizing storage and accessibility. The master bedroom is located on the first floor, for maximum privacy and convenience. The bedroom features laminate floors, a beautiful barn door heading into the bathroom and walk-in closet, and wonderful lake views. The stairs and hallway upstairs are also laminate floors, offering a stylish look that's simple to clean and maintain. The three bedrooms upstairs are spacious, providing plenty of room for comfort and relaxing with beautiful lake views. The upstairs laundry has plenty of space for cleaning products (washer and dryer included). The covered porch with plexiglass panels, provides shelter while letting in natural light. The home comes with a security system (including cameras) and a ring doorbell. The spacious garage includes built-in storage cabinets and a convenient utility sink. The gated community has a wonderful pool and playground for the little ones. Schedule your private showing today, you will want to call this house HOME.
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.
