Welcome to a truly special property, set on 34 picturesque acres bordered by Yellow Jacket Creek. This charming 1940 farmhouse, thoughtfully expanded in 2019, offers 4 bedrooms and 2 bathrooms and is rich with warmth, history, and inviting spaces throughout. Step onto the welcoming front porch and into the cozy living room, that sets the tone for relaxed country living. The updated kitchen is highlighted by an oversized island with bar seating. Three bedrooms share a bath with a tiled walk-in shower. Tucked away on the opposite side of the home, the private primary suite feels like a retreat of its own. This wing includes a second living area with access to an outdoor porch, a spacious bedroom accented with shiplap wall detailing, and a full bathroom. A spiral staircase leads to a charming loft, ideal for a reading nook, office, or creative space. Outdoor living is just as exceptional. The large enclosed back porch with a tin roof creates the perfect setting for year-round enjoyment, complete with an outdoor kitchen area and firepit, ideal for entertaining or quiet evenings under the stars. The land itself offers endless possibilities, featuring a fenced pasture with outdoor stable, a storage structure with open top, and dedicated RV parking. Whether you're dreaming of a hobby farm, equestrian lifestyle, or simply wide-open space to enjoy, this one-of-a-kind property delivers charm, functionality, and room to roam. A rare opportunity to own a piece of history with modern updates and unmatched acreage. Southeast Mortgage is our preferred lender. If buyer chooses to work with them, Southeast Mortgage will provide 1% credit up to $5,000. Reach out to the listing agent for more information.
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.
