Nestled in the charming Oaklawn subdivision, this delightful Colonial-style home offers a perfect blend of comfort and functionality. With 1,824 square feet of thoughtfully designed living space, this residence is ideal for those seeking a warm and inviting atmosphere. Step inside to discover a traditional floor plan that seamlessly connects the living areas. The gourmet kitchen is a true highlight, featuring stainless steel appliances, including an ENERGY STAR refrigerator/with water filtration system, built in bottle chiller and dishwasher, ensuring both style and efficiency. Enjoy casual meals in the eat-in kitchen or gather in the dining area for more formal occasions. The pantry provides ample storage for all your culinary needs, while the family room off the kitchen creates a cozy space for relaxation and connection. The home boasts four spacious bedrooms, providing plenty of room for everyone. The master suite is a serene retreat, complete with an en-suite bathroom for added privacy. With two full bathrooms and an additional half bath, morning routines will be a breeze. Rich hardwood floors and plush carpeting enhance the warmth of the interior, complemented by elegant crown moldings and ceiling fans that add a touch of sophistication. The attic offers additional storage space, ensuring that your home remains organized and clutter-free. Outside, the property features a generous 0.46-acre lot, perfect for outdoor activities or gardening. Enjoy evenings on the deck or patio, where you can unwind and soak in the tranquility of your surroundings. The exterior is equipped with thoughtful lighting and flood lights, enhancing both safety and ambiance. Parking is a breeze with an attached garage and a concrete driveway, providing convenience for you and your guests. Security features, including exterior cameras and smoke detectors, offer peace of mind. Located just under a mile from public transportation, this home combines suburban charm with accessibility. With its excellent condition and inviting features, this property is ready to welcome you home. Experience the perfect blend of comfort, style, and convenience in this Oaklawn gem. The following improvements have been updated or new: New roof 2025, A/C unit, Electrical box, water heater. Ready to Move In!
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.
