Wonderful opportunity for a lucky buyer! Charming two story with exceptional fresh curb appeal and a lovely blend of vintage touches and upgraded features. Fabulous location in the historic Cathedral Area, adjacent to the University of Saint Francis campus and directly across from popular Preservation Park (summertime Friday night concerts and food trucks!) The main level offers a bright and spacious living room, featuring a beautiful vintage staircase with elegant egg and dart molding and a stunning picture window overlooking the park. Roomy dining area has a handy pantry closet, vintage swinging door leading to the kitchen, and one of three antique leaded glass windows. You'll love the modern kitchen w/abundant natural cherry cabinets and all appliances are included. The family room offers so many options, has bountiful closet space, and a side door leading to the garage and yard. Truly convenient laundry area (washer and dryer also stay) is a step-saver, as is the updated bathroom complete with shower. Heading upstairs, you'll find three bedrooms and another full bath - all bedrooms have vintage hardwood floors (carpet-covered in master bedroom). Basement is built like a tank, with thick stone walls and great ceiling height for a home of this era. A rare, coveted feature is the long private side driveway from the street, leading to your two car garage - no struggling to find parking here or dealing with alley access. Sizeable back yard offers space for play or gardens. So many new and newer features, too: 2025 house siding, soffit/facia and fence; 2024 house/garage roof, gutters, garage door opener and front steps; 2021 dishwasher, washer, dryer, radon mitigation system, water heater. HVAC is appx. 11 years old. You belong here...welcome home!
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.
