ENJOY COUNTRY LIVING at this 3 BD/2 BA home on 5 acres with a pond. This exceptional property has a large, detached concrete block garage/workshop and a 97’x42’ pole barn, that could allow the freedom of operating a home based business for auto/boat/RV repair, nursery or agriculture service, etc. This custom built home has a unique design with a full length front porch welcoming into an open floor plan of the living room, dining and kitchen areas. The spaciousness of the home is elevated by high and vaulted ceilings and stunning wood floors presented throughout this spacious residence. The kitchen is an open galley style outfitted with an abundance of beautiful wood cabinets and counter tops, a center island and stainless appliances; the dining room is adjacent and a long bar top links to the living room. More storage can be found in the 13’x13’ walk-in pantry located in the garage, just off from the kitchen. The generous master en suite has a full-sized walk in closet approx 13x13, which conveniently also houses the washer and dryer. The spacious master bath offers a spa tub, tile shower stall, dual sink vanity and a makeup vanity. There is a bonus room beside the master suite that is ideal for an office, nursery or craft room. Two additional bedrooms share a lovely bathroom that is conveniently located. The attached garage is a huge space allowing lots of room for storage of autos, ATVs and more! Whole house has generator and 500 gallon propane tank! Relax on the front porch relishing the scenery of the sunsets reflecting across the pond; or enjoy fishing at the water’s edge from the great fishing deck. At the back of the property is the enclosed workshop & pole barn giving this property an advantage of fabulous storage and ready for full-time or part-time business, tinkering or gardening. This property is a great opportunity for those in search of a peaceful country lifestyle with close proximity to town for all necessities. Call today for an exclusive viewing of this residence!
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.
