The wait is over…Welcome to your dream home. If peace and quiet is what you are looking for, then look no further. Experience spacious living on approximately 1.14 acres with a beautifully maintained home featuring a long paved driveway, extensive parking space, and abundant room to enjoy both indoors and out. Fresh interior and exterior paint create a clean and welcoming feel from the moment you arrive. Inside, this charming property features 3 bedrooms and 2 baths and a bonus room that could be utilize for storage or turn into another bedroom. The property features an open and airy living space, ideal for both relaxing and entertaining. The renovated kitchen stands out with stainless steel appliances, white cabinetry, and light-patterned tile flooring that flows throughout the home for a cohesive and modern look. The extra-large media room with a fireplace offers an impressive space for entertainment, relaxation, or creative use. The expansive primary suite delivers comfort and style with a large bedroom and a stunning bathroom that includes a dual vanity, soaking tub, and an oversized walk-in shower. One of the two water heaters is tankless and privately located within the suite for added convenience. A screened lanai extends the living area outdoors and includes a connection for a future spa. The property also features fruit trees, a reverse osmosis system protected by its own shed, and two air conditioning units. The roof was installed in 2018 for peace of mind. There is plenty of storage space and enough room to build a pool, shed or stables for horses. With generous land, thoughtful improvements, excellent natural lighting, and property features designed for enjoyable living, this home offers space, function, and flexibility in a quiet, lightly traveled setting.
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.
