STOP THE CAR! This is the one you've been dreaming of! Stylish design and an outdoor entertaining space to die for! In Fact it's so incredible we are going to start off there. Enter the patio from the covered back porch. Overlook your three tiered deck. You are now the new host of every holiday.Upper deck with plenty of space for lounge chairs, games, or a large table. Covered cabana complete with grill and refrigerator that stay. Covered patio area with fan just begging you to spend the day. All area overlook the beautiful salt water pool. Additional shaded space thanks to the Giant sunscreen over the majority of the backyard. There is a separate space for a dog run so your furry friends keep their #2's in a designated space. Front yard is beautifully landscaped with a covered front porch. The inside of the home is equally as stunning! The main level of the home features 2 bedrooms and a full bathroom. Beautiful luxury vinyl plank is continuous throughout the main level of the home. Everywhere you look there are high end finishes and beautiful design. Kitchen features stainless steel appliances including a built in microwave, electric range, dishwasher, garbage disposal, and a refrigerator that stays. Beautiful granite countertops with mosaic tile backsplash. Stackable washer and dryer in the laundry area also stay with the sale. Kitchen also has beautiful shelving for an exposed farmhouse pantry vibe. Living room is spacious with a chandelier and 5 mounted can lights for several lighting options. The light fixtures in this house are unique and beautiful. The main floor bathroom is a tub/ shower combo with ceramic title surround. There are 2 bedrooms on the main floor. One is currently used as an office space with a built in desk. Sellers are willing to remove if the new buyers do not want it. The second bedroom features sliding barn doors and well as a door directly to the backyard. The entire upstairs level is primary bedroom. Plenty of space. Heated and cooled by a ductless mini split for year round temperature control on the second floor.
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.
