This home is special and it shows! This light filled beauty is fresh and cozy, meticulously remodeled and considers every detail from function to design. Driving down the street you instantly get a feeling of country leading straight to your expansive lot with a classic circle drive and great curb appeal! The stately brick home welcomes you in and that is where things really get exciting. Large open concept space and light wood floors grace the entry and you can start to imagine all the memories you will make here. A cozy den with a fireplace just off the oversized main room leads to the stunning kitchen which is newly outfitted with INCREDIBLE finishes like quartz counters, abundant soft close, all wood shaker cabinetry trimmed out to the ceiling, an AMAZING SS appliance package and on trend decorative tile backsplash. TWO FULL, spacious bathrooms featuring all the new items you want including gorgeous, solid surface counters, new wood grain shaker cabinetry, and fabulous tilework in all shower areas PLUS the primary has a dreamy freestanding tub to soak the day away! So many things are brand new in this home so you don't have to worry about a thing! An abundance of windows (all of which are new), new electrical wiring, new plumbing supply lines, new drywall, new luxury vinyl flooring and tile, new cabinetry throughout, new SS appliances, new bathroom fixtures such as toilets and showers and tubs, new faucet fixtures, new lighting fixtures. New roof and new AC ducts as well. The good stuff doesn't stop on the inside...there is a massive backyard with gorgeous mature trees and a HUGE shed plus a large covered patio, perfect for playing and entertaining all of your favorite people. Out front is fresh landscaping and exterior hardscape so you can feel proud every time you come home! This home and location are really amazing! Schedule a tour today to see for yourself!
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.
