PROFESSIONAL PHOTOS ON THE WAY! Step into a world of elegance and comfort in this stunning traditional residence, meticulously renovated in 2020 to blend modern luxury with timeless charm. With 3,489 square feet of thoughtfully designed living space, this home offers an inviting atmosphere perfect for both relaxation and entertaining. The heart of the home features a beautifully appointed kitchen, equipped with high-end appliances including a built-in microwave, dishwasher, disposal, and a sleek electric oven/range. The spacious layout allows for effortless meal preparation and gatherings, making it a culinary haven for any home chef. The adjoining dining area flows seamlessly into the living spaces. This residence boasts six generously sized bedrooms, providing ample space for rest and rejuvenation. Each room is designed with comfort in mind, ensuring a peaceful retreat at the end of the day. As an added bonus, 4 of the very spacious bedrooms feature en-suite luxury baths. The five luxurious bathrooms are outfitted with modern fixtures and finishes, offering a spa-like experience that enhances your daily routine. The fully finished basement adds an extra layer of versatility to the home, perfect for a media room, home gym, or play area. This additional space expands your living options, catering to your lifestyle needs. Or, if you prefer, the basement can be utilized as an ADU. It offers a kitchenette with full size refrigerator, microwave, a full bath as well as a separate entrance. Great income generating opportunity. Outside, the property is surrounded by a serene environment, ideal for enjoying quiet moments or hosting gatherings with friends and loved ones. While there is no pool, the expansive yard offers endless possibilities for outdoor activities and landscaping to create your personal oasis. Offstreet parking is available. Parking pad has been added to accomodate 4+ cars ensuring easy access for you and your guests. The home's location provides a perfect balance of tranquility and accessibility, allowing you to enjoy the best of both worlds. This residence is not just a house; it's a lifestyle choice that embodies luxury, comfort, and sophistication. Experience the perfect blend of modern amenities and classic design in a home that truly feels like a sanctuary. Don't miss the opportunity to make this exquisite property your own.
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.
