Nestled in a serene and quiet neighborhood, this great 6-bedroom, 4-bathroom home offers an open floor plan with granite countertops and stylish tile and LVP flooring. Situated on a sprawling lot of nearly half an acre, the fully fenced yard provides ample space for outdoor activities, plenty of room for a pool, or workshop. The home boasts an updated bathroom and kitchen countertops. Conveniently located near schools, hiking trails, Sand Hollow, and Quail Creek Lakes, it's also within walking distance to the Hurricane Walmart and Grandpa's Pond and Park. Enjoy breathtaking views of Zion National Park from the front and the Pine Valley Mountains from the back. The 2-car garage is equipped with two workbenches, cabinets, and shelving for ample storage. This home features two primary bedrooms, one on each floor, and large windows in the dining room that showcase the stunning mountain views. Lower level features 1 unfinished bathroom and 2 laundry rooms. The side and backyard offer plenty of parking space, and the expansive backyard is perfect for other amenities. The main patio features beautiful stairs leading down to the backyard, which is enclosed by a block wall and includes a fire pit. The downstairs area has private access, adding to the home's versatility. Come see this beautiful home and it's amazing, elevated mountain views!
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.
