Wonderful Hobby Farm on 20 Acres – Ready for Your Animals! Discover the perfect blend of country living and modern comfort with this move-in-ready log home, perfectly set up for animals and ranch life. Situated on 20 beautiful acres, this property offers endless possibilities for hobby ranching, or simply enjoying nature. Step inside to an inviting open-concept main level featuring soaring vaulted ceilings, a cozy wood-burning stove, abundant natural light, and brand-new flooring. All essential living spaces are on the main level, including the kitchen, dining area, great room, primary suite with attached bath, powder room, and laundry. The finished walk-out basement provides even more space, with two additional bedrooms, a full bath, and a spacious family room—complete with an included pool table for fun and relaxation. Outdoors, Enjoy nature and wildlife from your deck and yard, everything is ready for your animals with fenced pastures, corrals, a barn, chicken coop, and multiple loafing sheds. For those needing more space, the neighboring 20 acres with its own home is also available, offering the opportunity for a combined 40 acres and two residences. Nestled in a quiet location with a neighborhood shared driveway, you’ll be close to hiking and ATV/UTV trails. This unique property offers the best of rural living, don’t miss your chance to make it yours!
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.
