Affordability Can Still Be Found.…3 BDRM/BTH Cedar Sided Ranch w/Full Daylight Basement on Acre Lot in Desirable South Caldwell Location. Featuring NEW windows, guttering, water heater in 2025, updates to bathrooms 2024 and NEW metal roof in 2016. Basement drywall just completed. To add to that list is NEW laminate flooring for the entire house ready to be installed. Step inside from the covered front porch to find a natural stone fireplace that is both a beautiful and practical complement to the living room area of the seamlessly flowing, open concept plan. The bright, spacious kitchen features built to last, solid wood, custom cabinetry. Completing the hub of the house is a roomy dining area where family and guests can gather at the table to comfortably share meals together. Down the hall, the primary bedroom is complete with a private bath and two additional bedrooms sharing the hall bath. Convenient, main level, detached carport just a few steps from the side entry. Laundry hook ups both levels. Full basement has end garage door and offers excellent opportunity for those extra spaces you’ve needed; workshop, craft area, game room.. so many options. The huge backyard offers extensive, cleared open area perfect for establishing great outdoor living space, gardening, play area for the kids plus room for your beloved four-legged friends to roam plus wooded area for added privacy. Rural yet close in setting with area schools, walking parks and fitness centers, medical facilities and grocery stores minutes away. 5 minutes to Hwy 321 and quick commute to I40. Enjoy a beautiful, scenic, 40 minute drive to Blowing Rock and the High County. Call to make your appointment to see for yourself why this may be the right one that checks all the boxes and is ready to Welcome You 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.
