Step into this breathtaking Century Colonial home, showcasing timeless elegance that's truly unique. Situated on more than half an acre surrounded by trees and conveniently located just above Tuscora Park. This property features 5 bedrooms, 3 full bathrooms, and a spacious living area with a stunning stone, wood-burning fireplace. Discover beautiful hardwood floors, original moldings in many rooms, custom-made nooks, and creative areas throughout this colonial home. Unwind on the inviting front porch or make your way to the recently renovated private 12x24 space. This additional space has the potential to serve as an in-law suite, guest housing or an office. The detached 2-car garage features 100 amp electricity and a wood-burning stove. Recent improvements include: 2025 - kitchen stainless hood, master bath faucet, flooring & entry door sanded and refinished; This home also features a recently installed metal roof, providing excellent durability and longevity. The cement driveway has been significantly expanded, creating four additional convenient parking spots. The interior features a complete transformation of the laundry room and a beautifully renovated master bath. The exterior has also been enhanced with professional landscaping and attractive stonework, complemented by meticulous tree removal and maintenance, along with the addition of vibrant new flower beds. The kitchen shines with the inclusion of sleek, stainless steel appliances, while the entire interior has been refreshed with fresh paint, creating a bright and inviting atmosphere. The home also has a fully updated electrical system, ensuring safety and efficiency for years to come. Schedule a private viewing of this exceptional property 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.
