Don't miss this incredibly beautiful home just reduced and ready to make family memories for years to come. More than move in ready, large family home! Beautiful custom bathrooms for your guests and yourself! Many other custom touches throughout! Five bedroom/three bath home with stunning Boho/Farmhouse style, and with one bedroom and bathroom on the main floor. Plenty of room to entertain with a living, a dining and a great room, and oversized kitchen with room for a breakfast table as well. The kitchen boasts double ovens, a very large island with quartz countertops and custom backsplash, with dozens of cabinets. In addition, there is an extra large butler’s pantry and prep area between kitchen and dining. The large backyard with built in patio is great for those with a large group of family and friends. The side yard could easily be converted into RV parking on this large lot. The three car tandem garage has had the tandem area fully converted to a home gym, complete with its own AC unit for comfort. Once again, perfect for the health conscious family on the go, saving the precious travel time to the local gym! All bathrooms have upgraded countertops, and several with rustic cabinetry and floor to ceiling custom tile. There are more extra large storage closets upstairs with built in shelving and customization. Four of the bedrooms and the laundry is conveniently located upstairs. Oversized primary bedroom and large en-suite with large tub is the perfect sanctuary after a busy day. If all of this is not enough? This home also has paid off solar and a whole house water softener/filtration system! The seller is also willing to leave a few of the perfectly selected and fitting pieces in this stylish family home. This one is a must see for those needing lots of room for family and storage, yet not wanting to compromise on style!
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.
