Step into this charming and spacious Cape Cod home featuring refinished hardwood floors throughout and thoughtful updates that blend classic character with modern comfort. A new Andersen storm door installed in 2025 welcomes you inside to a warm and inviting living space. The Living Room showcases beautiful hardwood flooring and a cozy wood-burning fireplace, creating the perfect place to relax or entertain. Just off the living room, the Dining Room offers hardwood floors and a new ceiling fan, making it an ideal space for gatherings and everyday meals. The updated eat-in kitchen (2022) is both stylish and functional, featuring ceramic tile flooring, new cabinetry, quartz countertops, a subway tile backsplash, new sink, and stainless steel appliances. The kitchen also offers comfortable eating space and great storage. A main floor bedroom with hardwood flooring and a ceiling fan provides flexible living options and could easily serve as a guest room, office, or primary bedroom. The main floor full bathroom has been refreshed with a new mirror. Upstairs you'll find two additional bedrooms and another full hall bathroom. The primary bedroom includes a walk-in closet, while the second bedroom offers generous space and natural light. There is also extra storage available in the attic. The full unfinished basement provides excellent storage space and includes an updated circuit breaker box, offering room for future finishing possibilities. Outside, enjoy a fully fenced yard perfect for pets, play, or entertaining, along with a deck for outdoor relaxation. A detached one-car garage adds convenience and additional storage. Notable updates include a new roof on both the house and garage installed in 2022, an updated kitchen completed in 2022, a new central air conditioning system installed in 2023, and a new Andersen storm door added in 2025, giving buyers added peace of mind with major improvements already completed.
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.
