SELLERS are giving the BUYERS $5,000 CREDIT, to be used either to reduce their interest rate or to cover closing costs - Why wait for new construction when you can MOVE INTO A 2022 HOME TODAY without the higher price tag? Welcome to this beautifully designed 3-bedroom, 2-bath ranch home offering modern finishes, functional upgrades, and low-maintenance living—perfect for First-Time Buyers, Downsizers, or anyone Relocating to Charlotte. The open-concept layout is filled with natural light and features durable luxury vinyl plank flooring throughout the main living areas—no carpet where it matters most. At the center of the home, the kitchen stands out with a spacious island ideal for entertaining, meal prep, or casual dining, complemented by white cabinetry and stainless steel appliances for a clean, timeless look. The primary suite provides a private retreat with a custom walk-in closet system designed for optimal organization. A secondary bedroom also includes a custom closet upgrade—an added feature not commonly found in homes at this price point. Additional highlights include: • Corner lot • HOA-maintained lawn for easy, low-maintenance living • Two-car garage • Convenient in-and-out community access—ideal for commuters Located close to shopping, dining, and major routes, this home offers the perfect balance of comfort, convenience, and modern living in one of Charlotte’s fastest-growing areas. Newer homes with upgrades like this—priced under $400K—are becoming harder to find. Schedule your showing today before this opportunity is gone!.
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.
