Step into this beautifully updated and meticulously maintained home, where style, comfort, and thoughtful upgrades come together seamlessly. From the moment you enter, you'll appreciate the elegant Italian Travertine-inspired ceramic tile flooring that flows throughout the main level, creating a warm and sophisticated first impression. The stunning kitchen was completely refreshed in 2024 and is sure to impress. Featuring crisp white cabinetry, gorgeous quartz countertops, a designer backsplash, and an oversized breakfast bar, this space offers both beauty and functionality for everyday living and entertaining. The dramatic two-story family room is flooded with natural light from expansive windows that showcase peaceful backyard views and create an open, airy atmosphere. Whether you're hosting guests or enjoying a quiet evening at home, this inviting space serves as the heart of the home. Just off the kitchen, sliding glass doors lead to a newly installed 12' x 20' brick paver patio, thoughtfully designed with a retaining wall and surrounded by mature landscaping for added privacy. It's the perfect outdoor retreat for morning coffee, summer barbecues, or relaxing at the end of the day. Upstairs, the spacious primary suite offers a true escape, complete with a sitting area, large walk-in closet featuring custom California Closets built-ins, additional attic storage, and a beautifully updated ensuite bath with newer ceramic tile flooring and shower surround. Two additional generously sized bedrooms provide abundant natural light and custom California Closets organization systems. Both upper-level bathrooms have been updated with quartz countertops and luxury vinyl plank flooring, offering a fresh, modern feel. Additional recent improvements include fresh interior paint throughout (2023), stainless steel kitchen appliances (2022), and a newer water heater. The HVAC and water heater have been professionally serviced on a regular schedule, providing peace of mind for the next owner. Located in the highly sought-after Algonquin Lakes community, residents enjoy miles of scenic walking paths, neighborhood parks, baseball fields, and the convenience of being within walking distance to Algonquin Lakes Elementary School. You'll also love being just minutes from vibrant downtown Algonquin and the endless shopping, dining, and entertainment options along Randall Road. This move-in ready home offers the perfect blend of modern updates, exceptional care, and an unbeatable location. Come experience everything it has to offer. This version feels more current, luxury-focused, and less like a list of upgrades while still incorporating all of the important details buyers want to know.
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.
