Incredible Offer! ASSUMABLE VA @ 2.5%!!! YES! Are you looking for Peace and Solitude with all the amenities of City Life? 15 Miles from Duke Field. A short jaunt to the Beaches! This Lovingly MAINTAINED (see MORE) Lake Silver Home is Perfect to Raise a Family or Retire and Enjoy Life. Beautiful Neighborhood with Half-Acre Lots. Room for a Pool, Veg Garden, Boat or RV Parking! Inside, almost 2800 sq ft provides Room to Stretch Out! Immaculate Brick Home offers 4 Bedrooms 2.5 Baths and a Massive Kitchen! NEW HVAC, NEW WATER HEATER, NEW FRIDGE! Private Owner's Suite. Soaker Tub. Separate Shower. Big Walk-In Closet. Split Bedrooms. No Carpet! Huge Laundry with Walk-In Pantry for all your Storage Needs. Dining Room and Lovely Covered Front Porch. Great Curb Appeal. The Sweet Life. SEE MORE!!!! GOOD INFO --- PER THE SELLER: Pergo Premium Flooring with Premium Gold Star Underlayment in 2023 6" Seamless Gutters Whole Exterior Pressure Washed Outside Garage and Patio Lights Updated LED Lighting added throughout house Some areas of the home have new paint New Dishwasher and Refrigerator(2025) Hot Water Heather 2025 and AC 2025 Old Caulking was removed and replaced with new caulking on all exterior windows and doors Septic Tank was Pumped and Inspected in 2024 Driveway and Patio cracks inspected and sealed Quarterly Pest Inspection and Service Yearly Termite Inspection with Transferrable Bond (just renewed!) Roof inspected by CQ Roofing 2024. Did not recommended replacement, stating in good condition with many years of roof life left. Recommended maintenance of boot replacement and caulking was done. RV and/or Boat Parking possible with neighbors having added extra Parking Pads! Man Cave or Workshop/Shed also possible!
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.
