This beautiful home offers a spacious and flexible floor plan with three bedrooms, plus a den and an additional loft area that can serve as an office, playroom, or media space. Its thoughtful layout provides plenty of room for both everyday living and entertaining, making it ideal for a variety of lifestyle needs. Located on a large lot, the property offers both comfort and privacy in a welcoming residential setting. The home is loaded with upgrades, beginning with the attractive tile flooring in high-traffic areas and plush upgraded carpet and padding in the bedrooms and loft. The kitchen features stylish maple cabinetry and comes equipped with a refrigerator and micowave. The open-concept living spaces invite natural light and create a warm, inviting atmosphere. Relax and unwind in the spacious primary suite, which includes a garden tub and separate shower for a retreat-like experience. The additional bedrooms are well-sized, offering comfort for family members or guests. The den provides a great option for a home office, hobby room, or guest accommodations, and the loft adds yet another versatile living space to suit your needs. Outdoor living is also well accommodated, thanks to the large extended covered patioperfect for hosting gatherings, dining outdoors, or simply enjoying the fresh air. The oversized lot provides opportunities for gardening, play, or future enhancements such as a pool or outdoor kitchen. A 10-foot side-yard gate allows for easy access and potential storage for recreational vehicles or equipment. Practical details have not been overlooked, with an extra-high 8-foot garage door offering added convenience for larger vehicles. The oak stair railing adds a touch of elegance to the interior, highlighting the quality finishes found throughout the home. With its combination of upgrades, flexible layout, and spacious outdoor setting, this home presents an exceptional opportunity for anyone seeking comfort, style, and value.
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.
