Jack Britt schools! Tucked quietly in a cul-de-sac within one of Fayetteville’s premier neighborhoods, this beautifully maintained and extensively updated home sits on a large .61-acre lot and offers an exceptional blend of elegance, comfort, and outdoor living. Fresh interior paint, updated lighting and fixtures, new mirrors and faucets, newly painted bathroom and laundry room cabinetry, and rich wood flooring throughout the main level create a bright and inviting feel from the moment you enter. Off the foyer, the large flex room with newly added French doors (2022) features a tray ceiling, crown molding, and chair rail, allowing it to function perfectly as either a private office or a formal dining room. The spacious kitchen impresses with granite countertops, staggered cabinetry, a breakfast bar, tile backsplash with unique block windows, double ovens, under-cabinet lighting, and a cozy gas fireplace. The family room offers custom built-ins flanking the fireplace for a warm, cohesive aesthetic. Upstairs, all bedrooms surround a quaint loft area, and the expansive primary suite includes a sitting area, a large bath with a tile walk-in shower, jetted tub, double vanities, and a new frameless glass shower door scheduled for installation in the near future, as well as a closet organizer system. The backyard is a true retreat, featuring a beautiful in-ground pool with attached spa (installed 2021) and a gas heater for extended seasonal enjoyment, along with an extended concrete patio added in 2022, a metal-roof gazebo, a screened porch, a storage shed, and a freshly stained large fenced yard. Additional updates include a new upstairs HVAC unit installed in 2021 and a new refrigerator added in 2022. This thoughtfully upgraded and meticulously cared-for home is truly move-in ready with outstanding indoor and outdoor amenities in a highly desirable school district.
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.
