Discover a home where timeless sophistication meets everyday comfort in this beautifully designed 2,718 sq. ft. residence featuring 5 bedrooms, 3 full baths, and 1 half bath in a sought-after gated community. The heart of the home is a beautifully designed Gourmet Kitchen featuring elegant granite countertops throughout, beautifully tailored pendant lighting, and an open layout that flows seamlessly into the spacious Great Room—creating an inviting setting for both everyday living and sophisticated entertaining. This property of distinguished elegance offers an array of uniquely refined upgrades throughout. Custom staircase railings, exquisitely handcrafted custom window shutters. There are brand new elegantly designed light fixtures meticulously integrated throughout. This beautiful property offers two brand new Model i500 Chandelier Ceiling fans equipped with each of its own remote. One in the downstairs Great Room and the other in the upstairs Loft area to enjoy while entertaining. After enjoying your day out, relax and immerse yourself in the tranquility of your upstairs Loft enhanced with 3 beautiful sky•windows exuding an array of natural light. Step outside and enjoy your beautifully designed covered patio, ideal for relaxing or entertaining. Not only will you experience the tranquility, but you'll also enjoy having your very own customized outdoor Gazebo Bar which includes your very own outside Insignia flat-screen TV. The front exterior offers an exquisite and distinctively designed front porch, surrounded by a beautifully charming and eclectic iron gate. The exquisite illumination of the lighting decor creates an ambiance of elegance filled with a harmonious and enchanting welcome, while adding exceptional curb appeal to this beautifully designed 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.
