Welcome to this charming three-bedroom, two-bath residence is perfectly situated on a spacious quarter-acre lot, offering the ideal blend of comfort and privacy. With no HOA to contend with, you can enjoy the freedom of homeownership without the added restrictions. As you enter, you’ll be greeted by high ceilings and an open floor plan that seamlessly connects two inviting living spaces. The laminate flooring throughout enhances the modern aesthetic, while the sleek black appliances in the kitchen add a touch of sophistication. The kitchen island, complete with seating, provides a perfect spot for casual meals or entertaining guests, and the abundance of counter space and cupboards ensures you’ll have all the room you need for culinary creations. The large primary suite is a true retreat, featuring a walk-in closet and an en suite bath for your convenience and privacy. The thoughtful split bedroom plan adds an extra layer of tranquility, ensuring that everyone has their own space. Step outside through the sliding glass doors from the second living area to discover a covered screened-in porch, perfect for enjoying warm evenings while overlooking your completely fenced-in backyard. This outdoor space is ideal for children to play, pets to roam, and gatherings with friends and family. Plus, you’ll find an above-ground pool, perfect for those hot summer days, providing a refreshing escape right in your own backyard. Rest easy knowing the A/C is brand new and the roof was replaced in 2021. Additionally, a shed offers ample storage solutions, and a covered area provides extra space for your belongings. With no rear neighbors and an adjacent empty lot, you’ll enjoy peace and quiet, making this home a true sanctuary. Don’t miss the opportunity to make this exceptional property your own. Schedule a viewing today and experience all that this home has to offer!
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.
