SHORT SALE / AS IS -- Welcome to this charming 3-bedroom, 2-bathroom home situated on a spacious quarter-acre lot! With just under 1,300 square feet of living space, this light-filled home features neutral colors, stylish black fixtures, and wood-look LVP flooring throughout. Step inside to an open living and dining area filled with natural light. The spacious living room offers a ceiling fan and access to the covered front porch, while the dining area features a modern black light fixture and smart switch. The kitchen is both functional and inviting with white painted cabinetry, black hardware, black and tan laminate countertops, a black granite sink, industrial-style faucet, white subway tile backsplash, under-cabinet lighting, and ample cabinet storage. A side entry provides convenient access to the driveway. The additional bedrooms are generously sized with ceiling fans, good closet space, and plenty of natural light. The guest bathroom features a white vanity with a solid-surface countertop, black fixtures, dual-flush toilet, and a cast-iron tub/shower combination with tiled surround. The primary suite offers a versatile sitting area or home office space, built-in shelving, and ample storage. The ensuite bathroom includes a white vanity with a solid-surface countertop, black fixtures, linen closet, frosted window, and a cast-iron tub/shower combination with tile surround. Outside, enjoy the privacy of the fully fenced backyard and the added seclusion of being located at a T-intersection. Home also has detached oversized 2 car garage. A unique storm shelter sits beneath the primary bedroom, access is behind a temporary wall in primary suite/sitting area. Being sold as-is, but offers a great opportunity for investors, flippers, or buyers looking to add their own personal touches and build equity. With a functional layout, modern updates, and plenty of potential, this property is ready for its next chapter. Schedule your showing today!
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.
