Set on a beautifully treed lot just minutes from historic downtown Farmington, this spacious brick and aluminum Farmington Hills home blends comfort, thoughtful updates, and effortless everyday living. A welcoming approach begins with the updated sidewalk and covered front porch (Father & Son, 2022), leading to a Majic Windows premium entry door with sidelights (2020)--an inviting first impression that sets the tone inside. The open kitchen offers abundant cabinetry, generous counter space, and a charming breakfast nook, creating a natural gathering place for mornings and casual meals. Nearby, the oversized living room is filled with natural light from large windows, while the dining room--with ceiling comfortably accommodates a full-size table for hosting family and friends. A door wall off the dining room opens to a Trex(r) deck with vinyl railing and stairway to the backyard patio (Father & Son, 2022), The primary bed suite is a private retreat featuring a dedicated bath & deep closetsTwo additional entry-level bedrooms are nicely sized and share a beautifully updated full bathroom (2025), ideal for both residents and guests. The lower level offers exceptional flexibility with a spacious living area, full bathroom, bedroom, and an additional room that can easily serve as a extra bedroom, den, exercise space, home office, or storage. A tiled area presents an excellent opportunity for a future hot tub, kitchenette, or barperfect for creating a personalized entertaining space. Additional highlights include a 1??-car side-facing garage with door opener and an extended driveway that accommodates multiple vehicles, recreational equipment, or a camper. Recent improvements include Weather Guard windows installed in 2018 with a lifetime transferable warranty, Sherwin-Williams interior paint completed in 2025, a furnace and air conditioning system replaced in 2020, and a Majic Windows roof installed in 2021 with a GAF warranty. The home also features a Navien tankless water heater added in 2022, a generator transfer bo
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.
