Loved and cared for by four generations of one family, 3169 Mayflower Rd is now ready for new adventures. Located in a highly sought after development and within the boundaries of the highly ranked Colonial School District, this property provides plenty of room to grow and entertain. Sitting on .46 acres, this property welcomes you with a two-tiered hardscaped front garden with a brick walkway to its front door. Enter into a sizable living room with original hardwood floors, wood burning fireplace and open flow to the original dining area. Large windows provide ample natural light and views of the neighborhood island out front that is a meeting place for activities. The kitchen offers abundant counter space for prepping meals or spreading out buffet-style, plenty of cabinet storage space and a pass-through into counter seating in the den. The den, always a visitors favorite, is saturated in natural wood; wood floors, wood ceiling, storage bench and trim. The brick wood burning fireplace is the focal point with large windows on either side to soak the room in sunlight. From the kitchen you step up into the back open concept dining area and great room that accommodates large gatherings for holiday celebrations, summer parties or movie nights. Flanked with windows and doors on every exterior wall, this room soaks in the light and provides views of the large fenced in backyard. Laundry, a powder room and utilities finish the first floor. Upstairs are five well-proportioned bedrooms, two full baths, ample storage with 10 closets (one of which is a very large walk-in cedar closet) and access to attic storage.The expansive, fully fenced backyard is an extension of the home’s hospitality. It features a storage shed, lush gardens, and a unique piece of history: an "old-school" brick fireplace grill hand-built by the family’s great-grandfather. Whether you are hosting sports in the open green space or relaxing in the shade, this yard is a true sanctuary. Properties like this don't come onto the market often, schedule your tour today. Property is Sold As-is, where-is.
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.
