You have found it! A unique opportunity for under $850K! This is a 1 story home on 2 acres with over 3500 Sq. Ft. on the main level! The main residence is an entertainer's dream home! Enter and step into the oversized dining and music room, featuring windows to the covered patio overlooking the backyard plus full light double doors. The kitchen is open and spacious, featuring so much counter space for the holidays plus all of your gatherings with family and friends. It also features built in Stainless Steel appliances, granite counter tops, tile backsplash, side door to the chicken coop, and an oversized island with a raised bar. Beyond the kitchen, the house continues into the family room, where you can relax by the stone wood burning fireplace and gather with family and friends. You can also enjoy the view from the living room of the large backyard with plenty of room for everyone or of the tire swing hanging from the large Oak tree. The floor plan is a mother in law style with the primary room on the right side and the secondary rooms of the hall on the other side of the house. The large gameroom can be used as a gameroom or a large bedroom plus it features it's own 1/2 bath. All of the bedrooms are spacious and the secondary full bath is down the hall from them. Not only that, there is a Garage Apartment with a separate entrance, independent kitchen, dining, 1.5 baths, and either two bedrooms, or a living & bedroom arrangement. The garage apartment has an entrance on the main floor and the only room on the second floor is in the garage apartment. Feel free to request a copy of the floor plan of the entire house and guest quarters. House is occupied and we welcome pre approved buyers and/or cash buyers. Not pre approved yet? No problem, we can guide you to a few lenders that can help. Take advantage of this hard to find opportunity plus a low tax rate! Reach out today for further assistance. Thank you.
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.
