ASSUMABLE LOAN w/ Interest Rate UNDER 2.5% for qualified buyer! This Violet floor plan offers over 2,200 sq ft with 2 Bed/2 Bath/Den plus a separate guest CASITA featuring 1 Bed/1 Bath, built-in cabinets, tile, shutters with private front door leading to front courtyard. Situated on a PREMIUM north/south facing lot backing to a GREENBELT. Enjoy peaceful mornings on the extended covered patio with views of open grass, brick pavers, and pre-plumbed GAS grill. Expansive great room with stacked stone GAS fireplace, shutters, recessed lighting, and built-in speakers. Beautiful kitchen with staggered cabinets, pendant lighting, and large granite island. HUGE primary bedroom with patio access, luxury bath, walk-in shower, dual sinks, and walk-in closet. Dream laundry with cabinets and sink. EXTERIOR & LOCATION - PREMIUM Lot Overlooking Grass Greenbelt w/Walking Path - North/South Facing Lot - Located within the Center of the Community - Extended Covered Paver Patio- Pre-plumbed for GAS Grill - Mature Landscaping - Retainer Wall w/Gate for Storing Garbage Cans on Side of Home - Front Courtyard w/Pavers - Custom Security Iron Screen Doors on Front Door and Primary Bedroom Door - Sunscreens for Windows INTERIOR - Plantation Shutters on Front and Back Windows, Wood Blinds on Side Windows - Recessed Lighting Throughout - Stacked Stone Entertainment Wall - Ceiling Fans in Living Room & Bedrooms - Surround Sound System Inside and Outside Patio - GAS Fireplace - Split Floor Plan - Primary Bedroom Located Opposite Side of Home From Guest Bedroom & Den - Den Can Be Converted to Extra Bedroom - Room for Closet - KITCHEN: Large Center Island with Granite Counters, 42" Staggered Cabinets, Under Cabinet Lighting, Decorative Backsplash, Pull Out Drawers, Large Food Pantry, Pendant Lighting over Center Island, Kitchen Dining Area has Bump-out for Extra Space - PRIMARY BEDROOM: Very Large, Has Bump-out for Extra Space, Separate Door leading to Back Patio, Plantation Shutters, Carpet - PRIMARY BATH: Walk-in Shower, Dual Sinks, Large Mirror with 2 Medicine Cabinets, Spacious Walk-in Closet - GARAGE: Epoxy Coated Garage Floors, Built-in Storage Cabinets, Extended Garage Length - LAUNDRY: Large Laundry Room w/ Upper & Lower Cabinets, Wash Sink & Windows for Natural Light - Water Filtration System (Owned) - Reverse Osmosis System - GAS Water Heater and House Heating - Electric Stovetop and Dryer - INCLUDES Refrigerator, Washer and Dryer CASITA - Private Entrance off Front Courtyard - Full Bathroom - Built-in Cabinets/Desk Area - Separate AC Unit - Plantation Shutters & Tile Flooring
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.
