Location, Views, Privacy! Your paradise awaits at 2522 N 1600 E in North Ogden! Live above it all with the mountain as your backyard neighbor, views from every window, and a location that inspires envy from those who didn't find it first. And a rare opportunity to assume a 3.75% interest rate (contact listing agent for details). This 5 bedroom, 3.5 bath home boasts just over 3,100 square feet and feels even larger thanks to its semi-open layout. From the moment you walk in the front door, you'll feel welcomed by the soaring 2-story entry way and formal living room, both of which are enhanced with plentiful natural light thanks to luxuriously large windows. As you transition to the main living area of the home, you'll find a kitchen/dining area that is adjoined to the family room. The kitchen is perfect for entertaining thanks to features like peninsula seating, a double oven, and even real oak cabinetry with granite countertops! The dining room, which is open to both the kitchen and the family room helps bring balance to the concept of open living without sacrificing the need for separately functional spaces. Just off the family room, you'll find one bedroom which could also serve as an in-home office. A separate 3/4 bathroom also presents the potential for this to act as a private guest suite! As you head downstairs, you'll find a fully finished basement with plenty of space for fun, games, and storage. The basement layout is currently open, but with the addition of a wall, there's enough space to add a bedroom without compromising the spacious feel. The rest of the bedrooms are all found upstairs with 3 bedrooms and one bathroom being in one "wing" of the home. Each of these bedrooms have great views and plenty of space. The Master suite, completely separated from the other bedrooms and on the north wing of the house, boasts a large bedroom with vaulted ceilings and the best views in the whole house! A full walk-in closet, separate tub and shower, and double vanity setup mean you really can make this space your private sanctuary. Lest you think that's all, now is a good time to remind you that the garage is a 3-car tandem! And thanks to a massive shed out back, you'll be able to use the entirety of your garage for parking. Perhaps more importantly, all of the expensive updates have already been done - Brand new windows, a brand new heating and cooling system, and a brand new hot water heater will protect your investment for years to come.
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.
