Tucked within the sought-after Chicod school district, this charming 3-bedroom, 2-bath home sits quietly on 1.62 acres—two parcels of land that open up into a world of space, comfort, and a little adventure. As you step through the foyer, warm hardwood floors guide you into a bright living area and onward into the heart of the home. The kitchen, dressed with granite countertops and a crisp subway-tile backsplash, offers both a spacious pantry and a cozy breakfast nook complete with built-ins—perfect for morning coffee or catching up after school. Just beyond, a formal dining room waits to host dinners and celebrations. The split-bedroom layout leads you to a peaceful master suite, where a king-size bed fits with ease. The master bath invites you to unwind with its double vanity, jetted tub, and convenient linen closet, while the walk-in closet feels almost endless. On the opposite side of the home, two cheerful bedrooms—each 10x12 with ceiling fans—offer comfort and privacy. Nearby, the oversized laundry room provides space not only for built-in cabinets above the washer and dryer but also for a freezer or extra storage. Upstairs, an XL bonus room and two walk-in attics deliver flexibility for hobbies, guests, or simply keeping life organized. Step outside to enjoy evenings on the screened porch or gather on the patio for weekend grilling. A two-car garage and storage building add practical convenience, but the true hidden treasure lies at the edge of the property—a large, stocked pond shimmering beneath the trees. Whether you're casting a line at sunset, gliding out in a canoe, or simply taking in the quiet, it's a haven for the sportsman and a sanctuary for anyone who loves the outdoors.
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.
