Nestled in a beautiful community that is close to everything! This home offers a perfect blend of comfort and convenience. Built in 1999, there is 1,320 square feet of thoughtfully designed living space, featuring three spacious bedrooms and one and a half bathrooms. The inviting layout is enhanced by a lower-level family room, providing ample space for an awesome playroom or entertaining friends. The covered front porch is begging you to relax and enjoy a cup of coffee as you wave to the neighbors walking past. The first floor has new grey plank flooring throughout to help the rooms flow. The dining room has plenty of natural light from the sliding doors leading out to the deck that overlooks a nice backyard that does not back up to any other houses. The large living room is a cozy place to gather for a movie or to cheer for your favorite team. The kitchen has good counter space and room to add additional cabinetry. The first floor also offers a laundry room and powder room. Upstairs you will find all 3 bedrooms and a full bath with double vanity. There are plenty of closets and a garage for extra storage. All appliances convey, and the seller is offering a 3% seller credit to help the buyer with closing costs, fresh paint, or even a new roof! With its ideal location and unlimited potential, this home is not just a place to live; it's a gateway to a fulfilling lifestyle. Whether you're looking to entertain, relax, or explore the local community, this property offers the perfect backdrop for your next chapter. The best part is that this home is not part of an HOA. Don't miss the opportunity to make this home your own, add your personal touches, and immerse yourself in all that this wonderful neighborhood has to offer!
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.
