This property comes with a rate buy-down, reducing the buyer’s interest rate for the first two years of their loan. Buyer is not obligated to use preferred lender – however must use preferred lender to receive the buy down. Lender can issue loan approvals in as little as 5 days and close in 15. Restrictions apply. Situated on a peaceful 1.18-acre lot in the desirable Beaver Creek subdivision, this spacious ranch home offers over 3,775 square feet of finished living space with six bedrooms and three full bathrooms. Thoughtfully designed for comfortable everyday living and entertaining. The main level features four bedrooms, including a spacious primary suite, along with beautiful hardwood and ceramic tile flooring. One secondary bedroom offers direct access to the screened porch, creating the perfect private retreat or guest space. The kitchen is equipped with granite countertops, a smooth-top cooktop, dishwasher, and abundant cabinetry. The finished walkout basement provides incredible flexibility with 2 additional bedrooms, full bathroom, recreation room, and a sink already connected, making it ideal for an in-law suite, guest quarters, home business, or entertaining. The basement also features its own private entrance and exit for added convenience. Outdoor living is a true highlight of this property. Relax year-round on the spacious screened porch or enjoy the privacy of the fenced backyard surrounded by mature hardwood trees and a Tiki bar. A side entrance provides additional access to the home, while the updated retaining wall enhances both the functionality and appearance of the backyard. Additional features include a walk-in crawl space for easy storage and maintenance, attic access through the garage, a newer HVAC system that has been professionally serviced annually, newly installed grounded exterior electrical outlets, a sliding glass door leading to the outdoor living space, and a septic system that was cleaned within the last six months. For added peace of mind, the home has been maintained with regular Terminix service every four months. With public water, natural gas, no HOA, and an abundance of flexible living space, this well-maintained property offers the perfect blend of privacy, functionality, and comfort. Conveniently located just minutes from shopping, dining, and schools, this is a home you'll want to experience in person.
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.
