Picture this. It’s 5PM on a Friday. You worked hard all week and now it’s time to actually live. *Slams laptop shut until Monday* Instead of sitting in Atlanta traffic, you take the elevator downstairs and step out into Buckhead Plaza, and just like that, the weekend begins. Tonight it’s dinner at Umi. You grab a table with your friends, order omakase, and remember why you chose this city. After dinner, you walk two minutes to the St. Regis for late night drinks. No Uber. No parking garage. Just a perfect Friday night in Buckhead Village, all on foot. Saturday morning, you’re up and moving. Barry’s is calling. You take the RUN x LIFT class and earn yourself a big brunch. Delbar is right there waiting. You order the kebab and eggs, and wash it down with a fresh mimosa. After, you grab your dog and walk over to Fetch Park for a run around, then loop back through the Buckhead Shops because why not? The afternoon is entirely yours. You make it back to your place, poolside for a few hours, then get ready and do it all over again. This is what life at Unit 702 looks like. 24-hour concierge, saltwater pool, fitness center, sauna, and private theater room. If location is everything — and it is — this is the condo you’ve been waiting for. Experience the convenience, energy, and unmatched walkability of one of Atlanta’s most sought-after neighborhoods. All right outside your front door.
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.
