Clairway neighborhood, offering over 2,900 square feet of living space on three separate parcels totaling 1 acre. This beautifully maintained home features 3 bedrooms, 3 full bathrooms, multiple living areas, and an incredible outdoor setting designed for entertaining and everyday enjoyment. The current owners thoughtfully transformed the home’s original layout by removing the decorative columns and banister that once separated the formal living and dining rooms, creating a larger dining space with an adjoining sitting area. During the renovation, hardwood floors were refinished, enhancing the home’s warmth and character. The spacious owner’s suite includes a private bath and walk-in closet, while the hall bathroom was completely renovated down to the studs in June 2024 with a new shower, vanity, flooring, and fixtures. Additional recent improvements include fresh interior paint in multiple rooms and a butcher block island countertop installed in June 2026. Outdoor living is where this property truly shines. Enjoy the huge privacy-fenced backyard featuring a saltwater inground pool, upgraded in 2011, with a new liner installed in February 2025. A shallow-well sprinkler system helps maintain the grounds, while the large workshop provides outstanding space for hobbies, storage, or projects and features a new roof installed in Spring 2026. The property also includes easement access to Edmonton Road and offers abundant storage with oversized closets in both the recreation room and laundry area. Major system updates include the main house HVAC replacement in approximately 2017-2018 and the house roof replacement in December 2012. Combining acreage, updates, storage, workshop space, and a resort-style backyard, this is a rare opportunity to own one of the area’s most unique and versatile properties.
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.
