From the moment you turn onto the long gravel drive, this place already feels like home. The open pasture on both sides, the tall trees, the quiet, it all pulls you in before you even reach the front porch. The house itself is simple in the best way. A sweet 2 bedroom, 2 bath home that has been lovingly freshened up with new paint, new flooring, and a bright vaulted living room where sunlight pours in. It feels calm the minute you step inside. The kitchen has plenty of space to cook while looking out over the trees, and the remodeled primary bathroom gives the home a clean, updated touch that makes everyday living feel nicer. But the real magic is outside. All 9 acres are open and usable, with hay in the field and room for animals, gardens, or just mornings spent walking the land with a cup of coffee. There are two great shops, one insulated with a large overhead door, and a newer three bay shop that is perfect for storing equipment, working on projects, or building out the hobby you have always talked about starting. And the cutest little chicken coop sits nearby, ready for fresh eggs and slow country mornings. It is quiet here. Peaceful. The kind of place where you notice the sky more, where evenings feel longer, and where life naturally slows down in the best way. If you have been looking for a home that gives you space, simplicity, and a little bit of joy every time you pull in the driveway, this is it.
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.
