Stunning landmark home with so many updates now available near Hartshorne High School! The beautiful grounds and gorgeous mature trees set this stately residence off to a T. The curb appeal is unwavering as you approach the home, said to have been constructed by a builder who was a complete perfectionist. Step inside to a spacious living room with so much character, beautiful beam work and inescapable wood burning fireplace for a cozy atmosphere on chilly days at home. The new kitchen renovation reflects modern style and exquisite taste. The addition of a brand new bathroom for downstairs Master is a true delight with fanciful barn door and ample space and adds sq footage to the home. A secondary bedroom downstairs has access to a beautifully renovated hall bath as well. Upstairs is bedroom 3 with private bath and large walk-in closet. Bedroom 4 also upstairs has a wood burning fireplace and could serve as a second living area. Both upstairs bedrooms open to a lovely balcony for enjoying morning coffee in the sunrise. The tankless hot water heater runs on natural gas adding to the efficiency, and two units are in place to power the central air for the home. A stone patio and covered outdoor entertainment space with fire pit add to the functionality of this home. The detached garage with a hobby shop/storage will be just the place to keep your autos safe and to work on any desired projects. This property checks all the boxes! Call for your private showing today, this one won't last long.
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.
