Welcome to home sweet home nestled in one of the most coveted neighborhoods! This single-level residence boasts 3 spacious bedrooms and 2 full bathrooms, perfect for families, downsizers, or anyone looking for a peaceful retreat. Set on an attractive corner lot, this home offers privacy and an abundance of natural light. Front porch southern style, foyer entry with living room on one side and dining room on the other. The open-concept design seamlessly connects the family room, kitchen and dining areas, making it perfect for entertaining or cozy family gatherings. Imagine cozy evenings spent around the warm glow of the fireplace, where memories will be made against a backdrop of beautiful hardwood floors that exude warmth and character. The separate dining room is ideal for hosting dinner parties or enjoying family meals, while the well-appointed kitchen features solid surface countertops that combine style with functionality. Whether you're a culinary enthusiast or prefer quick weeknight dinners, this kitchen will meet all your needs. The master suite is a serene sanctuary offering ample space and a private en-suite bathroom, designed for relaxation after a long day. The two additional bedrooms are perfect for family, guests, or even a home office, providing flexibility to fit your lifestyle. Step outside to discover your very own outdoor oasis. The expansive yard offers limitless potential for gardening, play, or hosting summer barbecues under the sun. With a two-car garage, you'll have plenty of storage for your vehicles and outdoor gear. Located within city limits, this home provides convenient access to shopping, dining, and local amenities, all while maintaining the charm of a quiet neighborhood. Freshly painted and move-in ready, all you need to do is unpack and start making memories!
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.
