Coming Soon! Showings Begin Thursday, 5/14! Pool lovers, this is the backyard you’ve been waiting for! Located just 4 minutes from I-64 and 8 minutes from I70/364 in Lake St. Louis, this beautifully upgraded three bedroom two story home sits on almost 1/3 acre and delivers the kind of outdoor living that makes every summer feel like a staycation. Large level backyard backing to trees! The fenced backyard is built for entertaining with a 28x14 inground pool, spacious extended patio, aluminum fencing, beautiful deck with aluminum railing, and a 41-jet hot tub—perfect for pool parties, quiet evenings, and year-round relaxation. With over $90,000 in upgrades you will find a layout designed for everyday comfort. The huge kitchen features a center island, newer stainless steel appliances, refrigerator to stay, a desk nook, and a walkout to the deck for easy grilling and entertaining. Crown molding throughout most of the house adds a polished touch, while laminate flooring flows through the living room, dining room, all bedrooms, and the second-floor bonus area. The large primary suite offers the space buyers want, complete with a luxury bath and generous walk-in closet. Second-floor laundry adds convenience right where you need it. The walkout lower level expands your living space with a family room and half bath, making it especially convenient for pool days, guests, or movie nights after a day outside. Major updates give added peace of mind, including a new driveway in October 2025, roof in 2018, pool replaced in 2014, 2-stage high-efficiency furnace, replaced interior staircase, and Gateway Fiber wiring with 1 gigabyte wired into every room. With great indoor space, a true backyard retreat, and quick access to I-64, this Lake St. Louis home is ready for buyers who want lifestyle, location, and value all in one. See this one right away before it's gone!
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.
