This charming home is ready for a new family priced to sell. Ask me about an assumable, bellow market rate FHA loan!!! Step inside and you’ll immediately feel the warmth and potential of this spacious 1,920 sq ft home. With an open, modern floor plan and a HUGE 11,761 square foot lot, there’s plenty of room to breathe and create beautiful memories. Imagine building a large deck off the back where you can relax and enjoy sweeping views overlooking the entire city — perfect for morning coffee or evening sunsets. This lovely 3-bedroom, 2-bath home offers flexible space for everyone: growing families, visiting grandkids, a home office, or a cozy reading nook. The large great room is the heart of the home — an inviting space made for family game nights, holiday gatherings, or simply relaxing together. The kitchen features granite countertops, recessed LED lighting, a newer stainless-steel sink, and a spacious walk-in pantry — everything you need to make home-cooked meals or host casual get-togethers. Brand new 100% waterproof vinyl plank flooring (installed in 2022) runs throughout much of the home, and all windows have been upgraded to energy-efficient dual-pane glass for year-round comfort. The generous master suite is a true retreat, complete with two walk-in closets, a luxurious newer soaking tub, and a recently upgraded stand-in shower. You’ll also love the large laundry room with extra storage and a handy sink area. Best of all, this home is perfectly located for an easy, low-stress lifestyle. Hop on your golf cart and cruise right over to the golf course, or take a quick ride to nearby shopping, restaurants, and grocery stores — all just minutes away by foot or golf cart. Whether you’re raising a young family or enjoying retirement, this home has so much heart and potential waiting for you. Don’t miss out — it won’t stay available for long!
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.
