Beautifully maintained and updated 4BR/2.5BA Colonial on a spacious lot in the desirable neighborhood of Small Crossings. Something about seeing a front porch as you pull up that feels good about the curb appeal! The 1st thing you'll notice when you walk inside is the clean, fresh feel of new paint and a main level accented by lots of natural light, wood grain plank flooring, recessed lighting, and an open floor plan. The main floor offers a large living room, open dining room that's perfectly located off the kitchen for those larger hosted gatherings, a half bath, an updated eat-in kitchen, and an enclosed sunroom. The kitchen features plenty of soft-close cabinetry including a pantry cabinet, quartz countertops with a tiled backsplash, stainless steel appliances, a deep stainless sink, a raised breakfast bar with seating for two or more, and space for a breakfast table. Just off the living room through sliding doors, step out into an enclosed sunroom with access to the covered breezeway, and a deck that overlooks the amazing yard and community space. On the second floor are three sizable secondary bedrooms, a newly remodeled full bath (2024), and a primary suite. The primary offers a large bedroom, a spacious walk-in closet, and an en suite offering a new beautifully tiled walk-in shower with a built-in bench that had been remodeled in 2024. The lower level is finished offering additional living space featuring a large rec room, a flex space ideal as a home office, gym, or play space, storage, laundry, and a walk-out to the yard. From the main floor step outside to a yard offering tons of green space and possibilities. This home is move-in ready with so much to offer new homeowners including a 3-4 yr old roof, HVAC less than 10 yrs old, water heater & water softener replaced in 2021, and so much more. If you're looking for a home that's truly move-in ready with the peace of mind of recent updates to major systems and want to be close to area amenities, this is the home for you b/c you're minutes to grocery stores, Walmart, schools, gyms, boutique shopping of Main St Hampstead, restaurants, and commuter routes, including the Rt 30 bypass.
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.
