Quality craftsmanship, thoughtful design, and spaces made for creating lasting memories are just a few of the things you'll love about this exceptional home. From the moment you step into the welcoming foyer, you'll appreciate the open, flowing floor plan that seamlessly connects the formal dining room, spacious family room, and stunning chef's kitchen.The family room features a cozy gas-log fireplace, creating the perfect gathering space for family and friends. The dream kitchen offers a large center island ideal for meal preparation, quality appliances, abundant cabinetry, and generous pantry storage. The adjoining breakfast area overlooks the screened porch and private wooded backyard, providing a peaceful setting to start your day. The screened porch is the perfect place to unwind, relax, and enjoy the natural surroundings. Conveniently located on the first floor, the luxurious primary suite serves as a private retreat with a spa-inspired bathroom featuring an oversized walk-in shower, dual vanities, and an impressive walk-in closet. Upstairs, the versatile bonus room offers endless possibilities for movie nights, gaming, homeschooling, a home office, or additional living space. But wait you will be so impressed to know there is another bonus flex space with a walk in closet as well.Two spacious guest bedrooms with abundant natural light, and ample closet space. Need additional storage? The walk-in attic storage area provides plenty of room for all your seasonal and organizational needs. Car enthusiasts and hobbyists will appreciate not only the attached two-car garage but also the detached two-car garage, perfect for a workshop, woodworking space, or housing your prized vehicles. Enjoy warm summer days at the community pool and experience the charm of small-town living while still being just minutes from modern conveniences, including shopping, dining, and everyday necessities. This home truly offers the perfect blend of comfort, functionality, and lifestyle
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.
