Imagine pulling into a quiet master planned community and immediately feeling at home as you walk through the striking 8 foot mahogany front door. This beautifully updated two story home was designed for the way families truly live today offering 5 spacious bedrooms 4 full baths and flexible spaces ideal for multigenerational living or hosting long term guests. Natural light fills the open concept living areas where brand new luxury vinyl plank flooring and fresh paint create a warm inviting atmosphere. The heart of the home is the chef inspired kitchen where mornings begin and gatherings naturally unfold featuring quartz countertops GE stainless steel appliances, double ovens, a gas cooktop, vented hood, built in microwave, walk in pantry, dishwasher and raised panel cabinetry. Downstairs a private guest suite with a full bath offers comfort and convenience while the family room invites you to unwind by the gas Craftsman style corner fireplace. Upstairs the home continues to impress with a spacious game room perfect for movie nights. Two bedrooms sharing a bath and a third bedroom with its own hall bath providing room for everyone. Step outside and picture evenings spent under the large covered patio complete with a gas grill hookup, ceiling fans, retractable shade and color changing solar lights all overlooking a spacious backyard. Smart home features add ease of living including wired security with glass break and smoke detection, a doorbell camera and smart switches. A dedicated office with double doors, a mudroom with custom bench laundry room with added storage, French drains, a re-stained front door and low maintenance rock scaped side yards round out this truly turnkey home. Best of all this home offers an ASSUMABLE LOAN at an incredible 2.75 interest rate. Thousands in upgrades move in ready and waiting for its next chapter to be written.
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.
