Beautiful Custom-Built Home with Income Potential or Multi-Generational Built in 2019, this stunning custom home offers over 5,100 square feet of finished living space with even more room to expand. Perfectly positioned on a beautiful lot backing to open farmland, it blends modern comfort with peaceful rural views. Designed with versatility in mind, the home features two separate apartments—ideal for rental income, and or an in-law suite, or extended family seeking independent living space. Also, there is a possibility for a first-floor bedroom with a full bathroom if needed. Inside the main home, you’ll find a gourmet kitchen with granite countertops, stainless steel appliances, a center island, and a spacious open layout that flows seamlessly into the family room, complete with a gas fireplace and designer accent wall. The main level also includes a formal dining room, a breakfast area, a full bathroom, and a flexible spa room that could easily serve as a first-floor bedroom or home office. Upstairs, the main home offers three bedrooms and three full bathrooms, providing plenty of space, comfort, and privacy. Step outside to a screened porch, paver patio with hot tub, and a covered gazebo—all overlooking the fenced backyard, perfect for entertaining or unwinding. Car enthusiasts and hobbyists will love the three-car garage, with one bay currently used by tenants of the apartment above. The property includes two one-bedroom apartments, each with private entrances, creating excellent options for multi-generational living or income-producing opportunities that can help support your mortgage. With its thoughtful design, high-quality upgrades, and exceptionally flexible layout, this home delivers a rare combination of luxury, functionality, and value.
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.
