Rare opportunity in the highly sought after 55+ active community of Cross Ridge, where refined living meets effortless convenience. Here, you can have it all: a premier West End location coupled with all the amenities you want & need. This 4 Bedroom, 2.5 Bath, located in The Cottages of Cross Ridge, has been meticulously cared for and maintained & has so much to offer. The modern kitchen boasts granite countertops, high-end dark wood cabinetry with pull out drawers in the lower cabinets, tile backsplash, tile flooring, breakfast bar, pantry and an eat in dining area. From there you enter into the sunroom, bathed in natural light with large windows and a sliding glass door that leads to the expansive corner lot backyard. (One of the largest in the neighborhood!) The backyard offers a spacious outdoor patio, a private serene setting and a tree-lined fence in the back. The cathedral ceiling in the living room is stunning with a ceiling fan and upper windows that bring ample natural light to both the living room and the loft area above. (There’s also a gas fireplace for those cold fall and winter days to come.) The first floor primary bedroom will not disappoint: full thick carpets, huge walk-in closet, en suite bathroom with a large jetted tub, double vanity, and walk in shower. On the upper level you’ll find two comfortably sized bedrooms, a second full bath and a loft area with built in bookcases, perfect for reading and relaxing. The residents truly LOVE the sense of community that Cross Ridge offers. You’ll meet new neighbors, new friends and you’re sure to find a new activity you’ll enjoy in their monthly calendar of community events. The residents truly LOVE the sense of community that Cross Ridge offers! You’ll have easy access to I-295, I-64, and I-95, Publiix Grocery Store & TONS of restaurants & shopping nearby.
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.
