Need a great family home? Say no more! Move-in ready 3 Bed 2 Bath home (with possible 4th bedroom!) just 2 minutes from I-20-tucked into a quiet neighborhood but still close to everything you need, including shopping, restaurants, and home improvement stores! A big plus here is the new architectural roof installed in 2021, giving peace of mind right out of the gate. From the moment you pull up, the stone-accented facade and manicured front yard stand out and set the tone. Walking in, you're greeted by a 2-story foyer with a bay window pouring in natural light over the picture frame molding and durable LVP flooring. Just off the entry is a separate dining room overlooking the front yard, perfect for gatherings or everyday use. The layout flows exactly how you want it to. The kitchen features stainless steel appliances, a gas stove, breakfast bar, and a dedicated breakfast area, all with a clear view into the living room so you're never cut off from what's going on. The living room is centered around a gas fireplace with tile surround and feels spacious with its 2-story ceiling. The upstairs overlook adds that open, atrium feel-keeping everyone connected without sacrificing privacy. The master on the main is a big win-featuring a tray ceiling, garden tub, separate shower, and a walk-in closet. Upstairs gives you even more flexibility with 2 additional bedrooms, a full bath, a flex space at the top of the stairs perfect for an office or study area, plus a finished bonus room that could easily be a 4th bedroom, game room, or additional living space. Out back is where this one really settles in. You've got a wooden privacy fenced yard with mature trees that give it a quiet, tucked-away feel. The concrete patio is ready for grilling and relaxing, and there's a storage shed that's perfect for tools, equipment, or yard games. With plenty of space to play catch, throw a football, or let pets run free, this is the kind of backyard you'll actually use. To top it off, the neighborhood amenities are a major bonus and only about a 2-minute walk away. At the clubhouse, you'll find two large pools connected by a gazebo/deck area, along with a playground for kids, giving you plenty to enjoy without ever leaving the neighborhood. This one has a great overall feel to it-functional layout, solid features, and a location that's tough to beat. It's the kind of home that works for a wide range of buyers-come take a look and see everything it has to offer!
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.
