This beautifully maintained and recently renovated 3-bedroom, 3 full bath Augusta Villa is located in the highly sought-after Villages of Steeplechase—a resort-style community offering HOA-supported exterior maintenance, a community pool, fitness center, walking and bike trails for easy, low-maintenance living with real lifestyle value. The home features two main-level bedrooms (including the primary) and two full bathrooms, plus a third bedroom and full bath on the lower level. This model offers an expansive kitchen that opens to both the dining and great room areas—perfect for everyday living and entertaining. Highlights include gas cooking, granite counters, and black stainless-steel appliances (new in 2019). Buyers will love the durable luxury vinyl Plank flooring throughout the main living areas, 9-foot ceilings, a gas fireplace with built-ins, and elegant crown molding. The primary suite includes a large walk-in closet, and the ensuite bath has been completely renovated with a step-in tub/shower combo, upgraded tile, and dual vanities with granite countertops. The current owners have updated lighting throughout the home, including five new ceiling fans. The finished lower-level features 9-foot ceilings, upgraded luxury vinyl plank flooring, and access to a true workshop connected to the oversized two-car garage. This home has been meticulously maintained and is priced below market value. Updates and Services include: New Washer/Dryer, Fresh paint on lower level, & new Gutter Guards (all in 2025), updates to the second main-level full bath (2024), Raised Brick Paver Patio and Fireplace Serviced/Cleaned with new fan added, New Carpet in bedrooms and stairwell, Three new toilets, & Custom Motorized Patio Door Blinds (all in 2023), Additional outlets added to workshop/garage, $30k in Primary Bathroom renovations include new tile flooring, vanities, granite counters, lighting/accessories, tub/shower surround, LVP added in the lower-level recreation room, Air scrubber connected to HVAC with routine service 2x/year, Remote Air Filter added to workshop for dust), 5 new ceiling fans, $7k Sun Catcher Motorized awning (all in 2022), Black Stainless Refrigerator, Dishwasher, Microwave, Gas Range & New contemporary lighting (both in 2019). Buyers are moving to their retirement home and looking forward to passing this beautiful property to its new owners.
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.
