Welcome to your perfect mountain escape in the charming lake town of Scofield, Utah, with year-round access. Ideally situated on the south end of Scofield Reservoir, this property offers the rare opportunity to own a low-maintenance getaway with no HOA fees-an uncommon find in this highly sought-after recreational area. Whether you're looking for a weekend retreat or a full-time mountain residence, this home places you in the heart of year-round outdoor adventure. Enjoy boating, fishing, snowmobiling, ATV riding, hiking, biking, horseback riding, and world-class hunting-all just minutes from your doorstep. Or simply unwind and take in the peace and quiet of mountain living with breathtaking views in every direction. The home features a functional and inviting layout with a full kitchen, dining area, and bathrooms on both levels, making it ideal for hosting family and guests. A spacious loft adds flexibility for additional sleeping or living space. The oversized two-car garage provides ample room for vehicles, toys, and outdoor gear. Outside, the fully fenced and landscaped yard offers both privacy and usability, complete with a beautiful gazebo-perfect for relaxing after a day on the lake or trails. The unique railroad-themed dcor pays tribute to Scofield's rich history and adds character you won't find anywhere else. With year-round access, culinary water, and sewer connections, this property is as practical as it is picturesque-making it an easy, low-maintenance option for your mountain getaway. Don't miss your chance to own a slice of Scofield and start making memories in one of Utah's premier recreational destinations.
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.
