SELLER OFFERING CONCESSIONS FOR RATE BUY DOWN & MORE! ALSO ASSUMABLE LOAN AT AN INTEREST RATE OF 2.75%! SEND OFFER NOW! Welcome Home! Thousands in Upgrades! This beautifully updated 2-story home in a sought-after master-planned community offers 5 spacious bedrooms, 4 full baths, and flexible living ideal for multigenerational families. Step inside through an 8-ft mahogany door to an open-concept layout featuring brand new luxury vinyl plank flooring, fresh paint, and new carpet throughout. The chef’s kitchen impresses with quartz countertops, GE stainless steel appliances, double ovens, gas cooktop, vented hood, built-in microwave, walk-in pantry, upgraded dishwasher, added cabinet hardware, and raised panel cabinetry. A first-floor guest suite with full bath provides the perfect retreat for guests or in-laws. The cozy family room features a gas Craftsman-style corner fireplace, while upstairs offers a spacious game room, two bedrooms with a shared bath, plus a third bedroom with its own hall bath. Enjoy outdoor living on the large covered patio with gas grill hookup, ceiling fans, retractable shade, and color-changing solar lights. Smart home features include wired security with glass break and smoke detection, doorbell camera, smart switches, and smart sprinkler system for the landscaped yard and raised flower beds. Additional highlights: dedicated office with double doors, mudroom with custom bench, laundry room with added storage, French drains, re-stained front door, and rock-scaped side yards. Turn key and move-in ready!
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.
