This beautiful 5 bed, 4 bath home with a finished basement and secluded backyard is now available to any lucky buyer. These caring sellers have updated nearly every element of the home to make it exceptional for the next owner. They even paused a previous listing and completely renovated the master and 2nd level hall bath, which was the final step in making the property truly pristine. This property sets up perfectly whether you have a large family, a multi-generational living situation, or simply have frequent visitors. Step through the front door into the grand foyer and you know you have entered something special. You will love the recently updated kitchen complete with quartz countertops, modern cabinetry, lighting, range, and all stainless steel appliances. In addition to a beautiful kitchen, the main level offers formal living room, family room, eating area, dining room, laundry, bedroom and full bath. Master bedroom with freshly updated en suite, freshly updated hall bath, and 3 additional bedrooms (all bedrooms with brand new carpeting) complete the 2nd level. And there is more! The finished basement space offers a huge rec room, full bath and 3 additional spaces to use as you see fit. Large lot with a private view, a pool and a 3 car garage are the finishing touches that make this the perfect home. Kitchen completely renovated in 2021. New roof in 2022. All new windows in 2023. New furnace and hot water heater in 2023. New hardwood flooring in 2026. Renovated master and 2nd floor hall bath in 2026. And the the whole house Generac backup generator that conveys with the property is the cherry on top. Schedule your showing today! This one will not last long!
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.
