Calling all gearheads, DIYers, weekend tinkerers, and dreamers ready to bring a farm back to life—this one is something special. Set on 7 peaceful acres, this classic country farmhouse is full of charm, opportunity, and the kind of outbuildings that are hard to find. Calling all gearheads, DIYers, weekend tinkerers, and dreamers ready to bring a farm back to life—this one is something special. Set on 7 peaceful acres, this classic country farmhouse is full of charm, opportunity, and the kind of outbuildings that are hard to find. The true showstopper is the incredible 30x40 detached workshop with its own 200-amp service and meter box, a 50-amp welder circuit, monolithic poured concrete floor with vapor barrier and 3/4-inch rebar, and space built to handle serious projects—even semi trucks. Better yet, it conveys with a waste oil heater, air compressor, and car lift. Whether you're into cars, ATVs, motorcycles, equipment, or just need a serious workspace, this shop delivers. There is also a 30x40 pole barn with electric, plus a barn area featuring four 10x10 stalls and a 10x10 hen house inside, along with a run-in shed for horses. With open land and usable farm structures already in place, the property is ideal for horses, hobby farming, animals, or someone ready to restore its full mini-farm potential. Inside, the farmhouse has the warmth and character that only an older home can offer. The home features 4 bedrooms, with one offering flexible space for a hobby room, office, playroom, or extra storage. You’ll also find two living areas, including one with a wood stove that creates the perfect cozy gathering spot on cold winter nights and another currently being used as an office and craft space. The kitchen offers generous cabinet storage, making it functional for everyday living, cooking, and canning. A separate dining area adds to the home’s charm, while the oversized laundry/mudroom with a deep utility sink gives you the kind of practical space country living calls for. Additional features include a 22kW propane whole-house generator installed in 2017, electric tankless water heater, water treatment system installed approximately one year ago, and appliances manufactured in 2023. If you’ve been searching for land, charm, useful outbuildings, and a property with room to work, grow, and make it your own, this is one you do not want to miss.
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.
