UPGRADES INDOOR AND OUT** HUGE LOT**RV PARKING** PAID SOLAR*** This beautifully upgraded Summerly home has it all! The single story 4 BEDROOM home sits on a large corner lot. Enter the home through the lovely landscaped walkway. When you open the front door you are greeted with 9 foot ceilings and plank tiling that flows into the main living space. The living room is light and bright with an open concept to the kitchen. Enjoy a spacious kitchen with seating at the granite island and dimmable under-cabinet lighting. The primary bedroom sits away from the other bedrooms for privacy. The ensuite primary bathroom has a nice walk in shower and a big walk-in closet. The other three generously sized bedrooms are located at the other end of the home. The house has an extra large laundry with storage galore! Catalpa has been upgraded with Lutron lighting controls and automated roller shades on the windows. Lights throughout the home have a built in nightlight that is controlled from your phone. The upgraded baseboards, crown moulding and window coverings throughout the house elevate the custom feel of this home. The upgrades continue outside.... gated RV / motorhome parking pad with 220V outlet nearby. The custom built patio cover offers a great entertainment area near the built in BBQ. The yard is POOL SIZED and has a variety of fruit trees, tidy gardening beds and an adorable custom playhouse. The driveway has lots of parking and the garage is a TANDEM 3 CAR with epoxy flooring! Summerly Community offers community activities, a splash pad for the kids, parks and play areas and more! NO COMPROMISES ---- ALL of your needs met in one thoughtfully upgraded, beautiful home! PLEASE SEE ATTACHED FEATURES LIST for a full list of upgrades.
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.
