Price Improvement! This charming brick front 4-bed, 2.5-bath Duluth home offers an excellent floorplan, warm natural light, and wonderful space to grow. The main level flows easily from living to dining to family room, while all four bedrooms are conveniently located upstairs. With strong recent neighborhood sales, this home presents a fantastic opportunity to personalize and build equity. Come and see why Riverbrooke remains one of Duluth’s favorite communities. The Summit at Riverbrooke — one of Duluth’s most sought-after swim and tennis communities! This home offers a perfect blend of comfort, style, and convenience. Step inside to a bright two-story foyer and open-concept layout featuring gleaming hardwood floors on the main level. The inviting living room flows seamlessly into the dining room, perfect for gatherings and entertaining. The spacious kitchen overlooks the family room with a cozy fireplace, creating the ideal setting for everyday living. Step outside to the private patio, ideal for outdoor dining or relaxing evenings surrounded by nature. Upstairs, the expansive primary suite features a large walk-in closet and an updated spa-like bathroom with a soaking tub, separate shower, and private water closet. Three additional spacious bedrooms, a full bath, and convenient upstairs laundry complete the second floor. New water heater. With its brick front, easy-maintenance siding, and a two-car garage, this home is just waiting for your personal touches. The Summit at Riverbrooke community offers resort-style amenities, including a lake, pool, tennis courts, playground, and clubhouse — all within a vibrant, active neighborhood. Prime Location: Just 1.5 miles from Downtown Duluth, where you’ll find great restaurants, boutique shopping, and year-round festivals on the Town Green. Highlights:4 Bedrooms | 2.5 Baths | 2-Car Garage, New Water Heater & updated bathroom, Hardwood floors on main level, Living room opens to dining room, Open kitchen overlooking family room with fireplace, Private patio perfect for entertaining, Active swim, tennis, and lake community. Only 1.5 miles to Downtown Duluth dining, shopping & festivals Don’t miss this opportunity to live in one of Duluth’s most desirable neighborhoods!
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.
