Must see! This 4br/2.5ba in the highly coveted and gated River Hills neighborhood. Entering the home, pride of homeownership is clearly evident with beautiful finishes and decor. A formal dining room is off the entry before opening to the soaring ceilings and plantation shutters which highlight the living room and keeps natural light flowing through out the home. A showstopper kitchen is the hub of this home! Overlooking the living room and breakfast nook, the kitchen has stainless steel fixtures, appliances and a stunning backsplash. The paved and screened patio off of the breakfast nook is an entertainer's dream, roughly 600 sq ft! A spacious downstairs master bedroom has great closet space and a resort style master with double vanity, garden tub, shower with frameless glass enclosure and water closet. Upstairs you will find three well sized bedrooms and an updated bath. Even the laundry room is straight out of a magazine! The 1/2 bath downstairs is not only highly functional but beautifully finished as well. Mature landscaping and landscape lighting in front and rear of the home. Private backyard with no rear neighbors and plenty of room for a pool! Roof, a/c, hot water heater. River Hills is an outstanding gated neighborhood with top rated schools, recently renovated clubhouse with basketball court, playground, pool, and sense of community second to none. Seller willing to leave a golf cart so you can enjoy a ride to dinner at the club or go and grab 18 holes quick. Contact today to schedule your private showing!
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.
