Designed for flexibility, privacy, and long term value, this exceptional property offers a rare opportunity for multigenerational living, hosting guests, or generating supplemental income through a permitted short term rental. Located in a desirable section of the neighborhood with no homeowners association, the property also includes the added benefit of an assumable loan. The main residence spans approximately 2,106 square feet and offers three bedrooms and two and a half bathrooms. Thoughtful design elements enhance everyday living, including 10 foot ceilings, granite countertops, a gas fireplace, generous storage, and well planned his and her closets. Blinds are installed throughout, and recent updates provide peace of mind with a roof replaced approximately two years ago, new gutters, and a five year old HVAC system. The refrigerator, washer, and dryer convey for added move in ease. A detached guest house of approximately 660 square feet adds exceptional versatility. With its own private entrance, one bedroom, and one bathroom, this space works beautifully as a guest retreat, home office, gym, or creative studio. Features include a wine refrigerator and potential for customization such as a kitchenette, loft build out, or expanded shower. The seller, a contractor, offers the unique option to complete custom improvements prior to closing, offered separately at wholesale pricing. Outdoor living is inviting with a newly installed Trex deck overlooking a spacious fenced yard. Additional acreage beyond the fence line provides room for future expansion, added privacy, or recreational use. Located within a community known for tree lined fairways, creek views, a clubhouse, and a private 27 hole golf course, this property blends lifestyle, flexibility, and opportunity.
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.
