Updated Ranch with Big 4-Car Garage and Finished Basement with Room to Spread Out. Looking for a quiet, move-in-ready ranch with plenty of space, a huge garage, and that peaceful acreage? This home surprises you with how much room it has. Mornings fill the main living areas with soft natural light, perfect for starting the day with coffe. The updated kitchen makes everyday life easier with stainless steel appliances, fresh cabinetry, new flooring, and double pantries. Upstairs you get nearly 1,700 sq ft including 3 bedrooms (owner's suite with double closets and full bath), plus another ~500 sq ft of cozy finished lower level with a wood-burning stove, great for family movie nights, relaxing, or hosting friends. The oversized 4-car garage is a dream for hobbies, projects, small business storage, or just extra parking. Outside, the deep, tree-lined lot and patio create a private retreat for summer evenings, grilling, or simply listening to birds. Recent updates include HVAC, windows, baths, flooring, and fresh paint. Everything feels ready to move right in. Quick commute options to Columbus, and that relaxed suburban lifestyle with city access nearby. This property qualifies for up to $5,500 Closing Cost Credit, ask your lender about the grant program and give your agent a call to come take a look 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.