Experience the pinnacle of modern living in this meticulously renovated Tooele rambler, where every detail has been reimagined for the sophisticated buyer. From the moment you arrive, the striking modern brick exterior and ideal curb appeal set a high bar that the interior effortlessly meets. Step inside to discover a seamless open-concept family room bathed in natural light, featuring brand-new flooring, designer paint, and custom baseboards throughout. The chef-inspired kitchen is a true centerpiece, boasting sleek new cabinetry, elegant quartz countertops, and a semi-formal dining space designed for effortless entertaining. The main level further impresses with three spacious bedrooms offering serene mountain views and a showstopping bathroom featuring floor-to-ceiling custom tile and a contemporary vanity. The transformation continues in the expansive lower level, which offers incredible versatility and potential. With a convenient semi-walkout entrance, this space is perfectly suited for a potential mother-in-law apartment or a premium guest suite, complete with a massive family room, two additional bedrooms, and a luxurious 3/4 bathroom with matching floor-to-ceiling tile. Practicality meets style with a large, dedicated laundry room and abundant storage space. Outside, the fully fenced backyard provides a private oasis for summer barbecues and outdoor recreation. With all-new lighting, hardware, and mostly new appliances, this home offers the turn-key peace of mind of a new build with the character of an established neighborhood. Truly a rare find, schedule your private tour today. Buyer and Buyers agent to verify all information. Square footage figures are provided as a courtesy estimate only. Buyer is advised to obtain an independent measurement.
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.
