Welcome home!! Step inside this beautiful home and be captivated by the open concept floor plan with engineered hardwoods throughout, stunning front bay window, and the centerpiece, the gas log fireplace with mantle shelf, waiting to hold your cherished mementos! Do you love hosting friends and family? This move-in ready home is perfect for entertaining and creating new memories. This beauty features 3 spacious bedrooms upstairs, all with walk-in closets, along with 2.5 spa-like bathrooms throughout. The massive primary suite, spanning almost 400 sq. ft., has dual walk-in closets, an updated ensuite, and plenty of room for a cozy sitting area, is a perfect hideaway! Need a home office, an extra room for the football fan in your family, or even a 4th bedroom? The large and spacious upstairs family room is ideal! Looking for a place where the kids can have their own space, additional bedrooms, an exercise room, or just extra storage? The unfinished basement has 9 ft ceilings, a bathroom roughed in, and is a RARE find, ready and waiting for your imagination and finishing touches! The three-season sunroom overlooks your private, serene, wooded backyard oasis, one of the BEST in the neighborhood, overlooking a large common area so NO neighbors behind you! And an added feature is the recently updated deck that is perfect for the ultimate outdoor relaxation or neighborhood cookouts! Prefer gas cooking? Home is adapted for either gas or electric stoves. Purchase includes all appliances, a newer roof and water heater, RING doorbell, ADT alarm system, and 3-car Garage with Extended driveway! Located in the award-winning Avon school system, The Settlement offers a pet friendly and active lifestyle with MILES of walking and running trails, clubhouse with a POOL, basketball and tennis courts, playground areas, soccer fields, softball/baseball diamonds and fishing pond! Schedule a showing today!
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.
