This beautifully maintained 3 bedroom, 2.5 bath home offers space where you need it and updates where they count! Step onto the covered front porch and into a light-filled two-story foyer, flanked by a formal dining room on one side and a flex space on the other - perfect for a home office, playroom, or additional sitting area. The fireside family room flows into the renovated kitchen, featuring two-tone cabinetry, granite countertops and a bright eat-in area that easily becomes the heart of the home! Out back, enjoy the rear deck overlooking a private, wooded lot of OVER half an acre, peaceful, spacious, and ready for morning coffee or weekend gatherings. Upstairs, you'll find generously sized secondary bedrooms (one with a Murphy bed to maximize space!) and an oversized primary suite with tray ceilings, double vanities, a separate tub and shower, and a walk-in closet with a custom system. The drive-under two-car garage includes a partial unfinished area, ideal for future expansion - a workshop, gym, or additional living space. Recent improvements include a new roof, new HVAC systems, updated flooring on the main level, renovated kitchen, remodeled half bath, updated light fixtures, recent septic servicing, and thoughtful touches that add character throughout. No HOA!!! Located in Hiram, you're just minutes from the Silver Comet Trail, parks, shopping, dining, and everyday conveniences - offering a peaceful small-town feel while still staying connected. This home has been loved and cared for, and now it's ready for its next chapter! **Reduced Costs Option: With Preferred Lender, receive up to $2000 credit toward closing costs OR 1-year interest rate buydown!
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.
