Move right into this completely updated 3-bedroom, 3-bathroom ranch that blends modern luxury with outdoor recreation. Located in the heart of Orrville, this home has been transformed from top to bottom with high-end finishes and significant mechanical upgrades. The exterior boasts immediate curb appeal with a new roof, siding, gutters, and windows, all complemented by fresh river rock landscaping for a clean, low-maintenance look. The interior features newer laminate flooring throughout the main level and fresh paint. The chef-ready kitchen is equipped with quartz countertops, a stylish tile backsplash, a new sink and faucet, and professionally painted cabinetry. Both main-floor bathrooms have been remodeled with modern vanities and fixtures, including new vinyl flooring in the bathrooms and laundry room. For peace of mind, the home includes a new A/C (2024), newer appliances, and updated lighting throughout the main floor. The first level is complete with a laundry room and additional space for a large home office, playroom, or flex space. The living space extends to the finished walk-out lower level, which features new LVP flooring, a third full bathroom, a large entertaining area or family room, and a potential fourth bedroom. The unfinished part of the basement is ideal for a home gym or extra storage. Step outside to your private oasis: a fully enclosed backyard featuring an in-ground heated saltwater pool with a brand-new liner and an underground electric dog fence encompassing the entire perimeter of the property. Located in the Orrville City School District, you are just minutes from Orr Park and major local employers like The J.M. Smucker Company. Agent owned.
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.
