Charming Brick Cape Cod in a Fantastic Location! This charming Cape Cod welcomes you with over 1500 sq ft.of comfortable and inviting living space. The primary bedroom is conveniently located on the first floor, along with a beautifully remodeled full bathroom. Just off the primary suite is a versatile bonus room , perfect as a dressing room, home office, nursery, or quiet reading nook The quaint kitchen offers plenty of potential and leads into a dedicated dining area equipped with one of two highly efficient natural gas built-in heater, which serves as the home's primary heat source. Just beyond, the family room is filled with large windows that bathe the space in warm, natural sunlight throughout the day, creating a bright and welcoming atmosphere. A lovely sunroom sits off the kitchen, ideal for morning coffee or evening relaxation. Upstairs, you'll find two generously sized bedrooms and a recently updated half bath. The lower level includes laundry and an additional half bath, offering extra convenience and storage opportunities. Step outside to a spacious deck overlooking peaceful farmland, complemented by newly planted privacy trees that enhance the backyard retreat. Located directly across from Boyer's Market and within walking distance to Fleetwood Park and the community pool, this home combines charm, convenience, and value. It?s an excellent fit for first-time buyers, downsizers seeking first-floor living, or anyone looking to put their personal touch on a beautiful property.
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.
