Experience the perfect blend of grandeur and tranquility in this highly coveted Mayfield Ranch floor plan. From the moment you arrive, the "wow" factor is undeniable with soaring high ceilings and dramatic floor-to-ceiling windows that flood the home with natural light, creating an atmosphere that is as airy as it is elegant. As you enter the home, to your right your is the office with classic double doors and that overlooks the tree-lined front yard, while the heart of the home reveals a chef-inspired kitchen featuring a massive pantry and endless cabinet space. The main level serves as a true sanctuary, anchored by a spacious primary suite designed for ultimate relaxation. A charming bay window creates the perfect sun-drenched nook for a reading chair, while the extensive ensuite bath offers a spa-like experience with separate vanities, a deep soaking tub, separate shower and impressive walk-in closet. Whether you’re curling up by the corner gas fireplace in the living room or retreating to the lush, serene backyard...a true oasis for the avid gardener, this home is designed for effortless living. The upper level continues the theme of space and versatility, boasting three generously sized bedrooms, a beautifully remodeled full bath, and a large bonus room with closet perfect for a home theater, play area or second living room. With premium updates like Anderson windows, a newer roof, newer dishwasher and a recently replaced HVAC system, you can enjoy this stylish retreat with total peace of mind.
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.
