Just listed: A Beautiful Resale Traditional Raised Ranch 4-Sided Brick Home with 3 Bedrooms and 2 Baths upstairs. Master bedroom with hardwood flooring, a separate double sink and toilet, and a shower/tub combo with linoleum on the flooring. The 2 bedrooms upstairs have a Jack and Jill bathroom with an upgraded stand-up shower and ceramic tile. The kitchen has an eat-in kitchen with Bay windows and ceramic flooring, and granite top counters with stainless steel appliances. The laundry room sits off from. kitchen. Patio exit is off from laundry room. The dining room has a 12-seat placement. The living area has a gorgeous view with double-pane windows. The family room has hardwood floors with a dusk stove fireplace, which leads outside onto a deck for a nice, serene view of the back yard. For the entertainer, there is an inside entrance to the lower home entrance. The Lower level has a bar with granite, the wall also has crown molding and column decor with a media room for entertaining. There are three additional rooms that will fit queen-size bed furniture, making a nice gym area or office space. Beautiful double glass-stained exit door to the lower level. This home is Amazing for family bonding and entertaining. Bring your Offer and Make It Turn Into A Closed SALE!! The property will not be on the market long. Too much to offer for the price list with all the luxuries!!! No sign in the Yard Please look at the photo of home whicn is located on the left side of the street.
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.
