Nestled on a nearly quarter-acre lot in the desirable Springer Woods subdivision, this beautifully maintained 2020-built ranch offers the ease of first-floor living combined with thoughtful upgrades and room to grow. The open-concept floor plan features luxury vinyl plank flooring, and a spacious living room highlighted by custom built-in cabinetry and a sleek built-in linear electric fireplace, creating a stylish focal point for the home. The well-appointed kitchen is designed for both everyday living and entertaining, offering abundant cabinetry, granite countertops, stainless steel appliances, a gas range, and additional custom cabinetry with a beverage refrigerator. The adjacent dining area opens through a sliding glass door to the backyard deck, creating a seamless indoor-outdoor living experience. The private owner's suite serves as a relaxing retreat with a large walk-in shower featuring a built-in bench seat, dual vanity with stone countertops, and generous walk-in closet space. Two additional bedrooms and a second full bath with stone countertops, chrome fixtures, and a tub/shower combination provide comfortable accommodations for family or guests. Additional highlights include a convenient first-floor laundry room, attached two-car garage, and a large unfinished basement with tall ceilings--offering incredible potential to add substantial finished living space and instant equity. Outside, enjoy a fenced backyard with beautiful mature landscaping and trees. The oversized composite deck was constructed with enhanced structural support, making it ideal for entertaining, gatherings, or simply enjoying the peaceful outdoor setting. Situated in one of the area's most sought-after communities, this exceptional home combines modern construction, quality finishes, and future expansion potential--all while offering the convenience of true ranch-style living.
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.