This secluded Family home on a quiet cul-de-sac is conveniently located near shopping, medical facilities, entertainment, and dining, with quick access to I-85 and I-285. The renovated main level features luxury vinyl flooring, Formal living room, formal dining room, half bath, and separate carpeted den with fireplace. The recently updated kitchen is well designed with white quartz countertops and a decorative tile backsplash, an extended breakfast bar, double ovens, a deep farmhouse-style stainless steel sink, and refrigerator. New white cabinets feature soft-close drawers and pull-out shelves. A frosted glass door accesses the generous sized pantry with abundant storage. A glass door that opens to the deck provides a view to the beautiful wooded back yard that will remind you of a Mountain Retreat, and a tranquil place to enjoy meals our your morning coffee. Upstairs are four large carpeted bedrooms, each with spacious closets , along with a convenient hall bath. The primary suite includes an adjoining bath and double closets. The lower level is currently used for storage and features a fireplace and wet bar. This space is ready for you to design into your own office, playroom or hobby room. It features a sliding glass door that opens to a private partially covered patio overlooking the wooded backyard. An adjoining basement room includes a large laundry area and ample flexible space for hobbies, or seasonal storage. Conveniently located with access at the basement level is a 15.5 x 19.7 outdoor woodworker's shop offering 302 square feet of air-conditioned space, ideal for woodworking, hobbies, or gardening storage. The home also includes a convenient main-level two-car garage with single step to enter kitchen. The Winding Woods Swim and Tennis facility is nearby and there are Tucker City-run parks and recreation areas. The Tucker public Library is a short drive away.
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.
