Looking for privacy while still staying close to Lake Erie and all the nearby conveniences? This charming 3-bedroom, 1.5-bath brick ranch offers the perfect balance of seclusion and accessibility. On 2.38 acres with just under 2,000 sq. ft. of comfortable living space and located in the Buckeye Local School District, this home checks all the boxes. The welcoming foyer opens into an oversized living room accented by a stunning stone fireplace—an ideal spot to relax or gather with guests. The kitchen has been beautifully updated and features warm oak cabinetry, a roomy pantry, and plenty of counter space. It flows into a spacious dining area large enough to host everyone for holidays or weekend dinners. Two generous bedrooms sit at one end of the home, each with impressive closet space—either could easily serve as the primary. Throughout the home you’ll notice rich solid-oak doors and trim that add timeless character. The partially finished basement provides even more flexibility, complete with a second fireplace, hobby/workshop areas, and newer glass block windows that bring in natural light while adding security. Outside, the backyard is its own private escape. A large deck with a above-ground pool, which comes equipped with solar panels for heating and a full filter system, all staying with the home. It’s the perfect setup for pool parties or quiet lounging, with wooded surroundings on both sides offering extra privacy. And for a special bonus—during the winter months, you can enjoy a peek-a-boo view of the lake. Additional updates include new deck, a new septic system installed in 2022, basement was waterproofed and french drains were installed in 2023 as well as new 6 inch gutters in 2022. All appliances are included, making this home truly move-in ready. Don’t miss the chance to make this spacious and well-cared-for ranch your own!
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.
