Price improvement. Welcome to this beautiful updated clean 4-bedroom/2-bath home offering style, comfort, and a thoughtfully designed free-flowing layout. The welcoming foyer leads into a spacious living and dining area, setting the tone for the home’s warmth and charm. Love to cook and entertain? The open-concept kitchen and family room is the perfect gathering space to watch a Sunday night game or lay around and binge watch your favorite series. This area features granite countertops, stainless steel appliances including a double wall oven, new cooktop, dishwasher, and side-by-side refrigerator. With a large island, custom cabinetry with under mounted lighting and pantry. It creates the ideal hub for preparing meals, hosting guests, or simply relaxing on a quiet weekend while enjoying the cross breeze through open windows. Both bathrooms are designed with comfort and luxury in mind, offering double vanities with granite countertops. The primary bathroom boasts a ceramic tile shower with heated flooring and a dual shower head, complemented by under vanity lighting, while the secondary bath offers a relaxing jetted tub. Additional updates include new carpet in living/dining room, fresh paint throughout, and generous-sized bedrooms. Modern improvements add peace of mind and long-term value, including a new roof (2022), new windows in the living room, front bedroom, and primary bedroom, as well as radiant baseboard heating. Practical highlights include a spacious laundry room and attached two-car garage with extra storage space. Enjoy the privacy of a large open backyard or unwind in the inviting three-season sunroom. Nestled in a quiet cul-de-sac neighborhood with friendly neighbors. This home is perfect for both everyday living and entertaining, inside and out.
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.
