Welcome to this beautiful home in Hannah ridge at feather grass! Once you walk up you will notice the spacious covered front porch perfect for your morning coffee & just relaxing. As you enter the home you will see immaculate laminate wood flooring throughout most of the main level that leads into this open concept floor plan. For convenience, you have an office situated right next to the front door and as you go down the hallway you are greeted with an open living room that features a gas fireplace with stacked stone. The dining area and kitchen are accented with stainless steel appliances, gas oven, custom cutting board, granite countertops, island, tile backsplash, pendant lighting, recessed lighting, pantry and drop zone. In the upper level you will find a loft/flex area adding additional living space to accommodate various needs along with three bedrooms and laundry of course. The primary bedroom is good-sized and has accented ceiling adding depth and light. The adjoining bath offers double vanity, granite counter tops, walk-in shower with glass doors, shower seat, upgraded tile, linen closet and walk-in closet. Everything you want and need! Once you make your way to the finished basement you will find a huge rec room accompanied by a state-of-the-art wet bar. The wet bar features a black walnut bar top, eastern cedar countertop, kegerator, mini refrigerator, brick and stone accent walls, sink with glass rinser and cutting board insert perfect for entertaining or enjoying your drink of choice. The basement is also equipped with and additional bedroom and fully-up-to-date bathroom with all the bells and whistles. Finally in the backyard you will encounter a secluded oasis backing up to open space. Composite deck off the back of the house, 38X12 concrete patio, and pergola. Home has solar to save on electricity. Solar to be paid off at closing with acceptable offer. Whole home water softener, Reverse osmosis system, additional storage. This house has it all!
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.
