This home in Ridgewood Subdivision has been completely renovated with entertaining and peaceful living in mind. As you enter through the front door you will find a wide open space awaiting. This living room area is complete with a custom, stand-alone fireplace, which is the perfect accent to the space. As you make your way through the living room, you will come upon the dining area and then the sunroom, which is great place to enjoy your morning coffee. To the left of the home are the bedrooms and bathrooms. The master bathroom features custom cabinetry, unique granite counter tops, and an oversized, custom built tile shower. To the right of the home, exiting the living room, you will find a true gourmet kitchen, featuring, top of the line, commercial grade stainless steel appliances, including a large size refrigerator, a built-in under counter beverage center, one main sink, one prep sink, and a Thermador commercial style dual fuel 48 inch restaurant depth range featuring a full sized convection oven with roller bearing racks, a smaller steam induction convection oven, a warming drawer, a pot filler accented by a custom tile backsplash, and a built in flat grill. This chef station has six gas burners ranging from 12 to 22 thousand btu and 4 feature ultra-low setting. There is a 1000 cfm professional series range hood, with remote fan for quiet running and built-in warming lamps. You have everything you need to prepare any meal imaginable and when it comes time for clean-up, there's a matching Thermador dishwasher that runs so quietly, you won't even know it's on. Exiting the kitchen to the rear of the home you will find the perfect place to enjoy those meals, to entertain guests, or to just sit back and enjoy the evening sunset on the multi-level patio. This outdoor space was designed with entertaining in mind and has an area that has all of the electrical and plumbing in place for your future outdoor kitchen. Need help with that? If you can dream it, we can build it. At the end of the patio there is a ramp incorporated into the design, allowing for easy access to transport groceries and supplies to the kitchen. The lower level overlooks a custom boulder rock outdoor fireplace to keep you warm on those cooler nights. With a wooded, serene, setting you may never want to leave. Give us a call today and we'll go take a look.
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.
