This executive 4-bedroom, 3.5-bathroom Craftsman home is one you will want to see! Inside, you will enjoy 12-foot ceilings, as well as tray ceilings in the living room and master bedroom. Not to mention solid core 8-foot interior doors. The gourmet kitchen looks like its straight out of a magazine! Pictures don't do it justice! It boasts custom cabinetry, shiplap accents, a farmhouse sink, granite countertops, a five-burner gas range, and a brand new custom vent hood, and a large walk-in pantry. The spacious master suite offers alot of natural light including private patio access, recessed speakers, and a luxurious bathroom with a designer walk-in closet, tiled walk-in shower with body sprayers and rainfall showerhead, a free-standing soaking tub, and a double vanity. The great room features a gas stone fireplace, built in surround sound speakers, tray ceiling, wood-look tile flooring, and several large brand new glass doors leading to the expansive back porch with built-in outdoor kitchen, fireplace, with plenty of room for a pool or expanded outdoor space. The home is wired for a custom home theater system and even includes a state-of-the-art digital security system controlled by a master remote. This home includes a downstairs guest suite, perfect for a mother-in-law suite or spare bedroom. Upgrades include an upgraded Daikin HVAC system with a transferable 10-year warranty, upgraded irrigation system, and an advanced speaker system with smart home features. The lush Zoysia lawn adds curb appeal, and the rear-entry two-car garage provides private access. Located in a gated neighborhood with brand new amenities including a clubhouse, pool, basketball court, pickleball court, and more! This home recently appraised at $725,000 which means you have instant equity! Schedule your tour today to take advantage of this amazing home at an amazing price!
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.
