Custom Built One Level Home that's MOVE IN Ready! NO HOA! This home was originally built by well know local builder "Distinguished Design" and is the popular "Ryleigh" floorplan. Featuring 3 bedrooms and a bonus room upstairs or 4 Bedroom plus 3 full bathrooms one of which has a full bath upstairs. It has close to an Acre of property with a large area fenced at back. It's been graded to accomodate a pool if desired. This home is very spacious for family gatherings both inside and out. Fresh New Paint, New Carpeting and Landscaping just added. Home shows LIKE NEW. A wonderful open kitchen with stainless steel appliances, lots of cabinets, a island, solid surface countertops, recessed can lighting, water filtration system and tile backspash overlook the living & dining area. The living room features can recessed light, a beautiful custom stone fireplace with gas logs and bookcase shelving. The over-sized master suite features a walk in closet, double vanity, walk in shower and a jetted garden tub. Upstairs you'll love the flexibility of the oversized 4th bedroom or bonus room that has a full bath and closet. Enjoy the outdoors area that features a 10'x20' screened covered patio. A two car attached garage and a 20'x26' detached garage / workshop with storage to accommodate all your toys- classic car, boat or jet ski!! House features electricity saving solar panels with monthly bill set at $222 . See photos of the popular Northside Park a couple of miles away at 101 W. Darby road and Otter Creek. This park features Pickle Ball, Picnic Tables, Swimming Pool with Cabana, Water Slides for the kids and more.
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.
