Welcome to this charming and fully updated brick home in one of Royal Oak’s most desirable neighborhoods. With multiple living spaces, a 3-season room, an expansive backyard deck, and a finished basement, this home offers room to spread out, entertain, and enjoy every season. Step inside to a bright living room that flows into the cozy family room, highlighted by a Pella bay window (2019) and direct access to the remodeled 3-season room (2019)—a perfect spot for morning coffee or evening relaxation. The kitchen and dining areas sit at the center of the home, creating an easy layout for gatherings and everyday meals. Downstairs, the fully finished basement (remodeled 2023) adds a huge amount of functional living space with a wet bar, full bath (2025), dedicated laundry room, and storage. It’s the perfect setup for a playroom, movie room, home gym, or the ultimate “man cave.” The fenced backyard features an expansive deck, giving you plenty of room for summer barbecues, outdoor dining, or simply unwinding in your own private space. Major updates add peace of mind, including: furnace & A/C (2024), oversized hot water heater (2024), main bath update (2020), garbage disposal (2024) and more—over $100,000 in recent improvements. And just across the street? A beautiful park with a softball/baseball field, playground, and soccer nets—ideal for families, dog owners, or anyone who enjoys green space right outside their door. This Royal Oak gem blends charm, function, and thoughtful upgrades throughout. Schedule your showing today and come see how much life you can fit into this home.
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.
