Beautiful large 5 Bedroom home with possible in law-suite nestled in the desirable Kingston neighborhood. This exquisite residence is updated throughout with a multitude of upgrades and offers a blend of comfort and sophistication. With 2,423 square feet of thoughtfully designed living space, this home is a sanctuary, warm and inviting with a beautiful open concept floor plan. Step inside to discover, a recently updated kitchen with vaulted ceilings boasting stainless steel appliances, including a self-cleaning oven and built-in microwave, complemented by stunning countertops that elevate the cooking experience, Natural light pours through skylights and newer replacement windows that flows though the dining and living areas. The elegant living room includes a wood burning fireplace to enjoy on cozy nights. Newer sliders as you exit to a beautiful paver patio perfect for entertaining as well as a fully fenced yard and storage shed. Your creativity awaits as you determine how to enjoy a remarkable lower level with bedroom or office, even an in-law suite with separate entrance, a full bath and 2nd kitchen (just add oven). Further enjoy the well-appointed bathrooms with beautiful tile and enclosures. Corner lot with rear and side yards that provides ample space for outdoor activities or relaxation. The circular concrete driveway adds a touch of elegance and convenience, allowing for easy access and ample parking. Additional features include exterior lighting that enhances the home's curb appeal and sidewalks that invite leisurely strolls through the neighborhood. Newer roof (2023), and dual zone heating with furnaces replaced in 2020 and 2021. Nest thermostat, Simplysafe and Keyless entry also available. This residence is not just a home; it's a lifestyle. Experience the perfect blend of luxury and comfort. Embrace the opportunity to make this property your own. Close to major roads, access to city and nearby schools.
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.
