A rare entertainer’s dream at the end of a quiet cul de sac, this one of a kind home is loaded with custom upgrades throughout the interior. Beautiful tile wood look flooring, halo lighting in both the formal living and main living areas, and extra large crown molding give the home an elegant, cohesive feel. A spacious downstairs bedroom sits next to a full bathroom, ideal for guests or multigenerational living. The gourmet kitchen centers around an impressive extra large marble island with seating on both sides, a built in microwave and cabinet space on both sides, pot filler over the stove, large pull out shelves on both sides of the extra large 2 door refrigerator, and abundant storage. The large laundry room provides ample cabinet space and a convenient utility sink. Ceiling fans are found throughout the entire home, including in the bathrooms, to keep every room comfortable. The luxurious primary suite features a large bedroom with a modern ceiling fan and a custom built in media wall with display shelving and storage cabinets. The spa style primary bathroom offers a cozy fireplace, double sinks, two separate walk in closets, and a wine refrigerator, creating a true retreat. A dedicated theater room delivers the ultimate movie experience with built in surround sound, high quality projector and equipment, two ceiling fans, and elevated second row seating. Additional interior highlights include a pool table in the formal living room and a whole home water softener, plus extensive built in storage cabinets in the extra large garage with stained custom concrete floors. The resort style backyard is built for entertaining, with a custom pool and jacuzzi as the centerpiece. An incredible outdoor living area includes a gas powered grill behind the seating area, outdoor sitting area with TV, ceiling fan, gas fire counter, and a running sink, plus a fire pit next to the TV area and a separate fire pit beside the pool. Two automatic awnings over the outer rear garage doors provide welcome shade and extend your usable outdoor space. For toys and storage, the property offers RV parking with electric hookup and waste disposal, dedicated boat parking, and a custom back of home layout with three garage doors. Located at the end of a quiet cul de sac with no comparable homes nearby, this property truly stands out as a one of a kind opportunity.
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.
