Discover your dream home in this charming rancher, perfectly situated on a sprawling one-acre lot adorned with mature trees and a serene landscape. This delightful residence features three bedrooms and two full bathrooms, all thoughtfully designed for ease of living on a single level. As you step inside, a warm welcome awaits with sunlight streaming through the bay window, illuminating the expansive front yard. The open-concept layout seamlessly integrates the living room, dining area, and kitchen, making it the heart of the home. The kitchen is a culinary enthusiast's delight, showcasing stainless steel appliances, a farmhouse sink, and a generous center island, ideal for hosting family gatherings or enjoying cozy weeknight dinners. Adjacent to the main living area, you'll find a spacious family room that invites relaxation. The impressive brick hearth, complete with a pellet stove, sets the stage for cozy movie nights or quiet evenings spent watching the flickering embers of the fireplace. A short hallway leads to two thoughtfully placed guest bedrooms and a full guest bathroom, providing privacy and comfort for family and friends. One of these bedrooms features a convenient walk-in closet, adding to the home's functional design. On the opposite side, the expansive owner’s suite is a true retreat, offering tranquil views of the rear deck and patio through patio doors and a skylight that floods the space with natural light. The en-suite bathroom features an accessible step-in shower and elegant glass doors, while the generous walk-in closet ensures ample storage. Step outside to your personal outdoor oasis, where a multi-level deck and raised patio area beckon. An above-ground pool makes for a refreshing escape during hot summer days, while the space is perfect for hosting barbecues or enjoying morning coffee under the stars, surrounded by lush landscaping. Completing this exceptional property is a finished flex space adjacent to the garage. This versatile area can serve as a home gym, craft room, or office with its own private entrance—offering endless possibilities to suit your lifestyle. Storage is abundant with a two-car garage that includes a private back entrance and a workshop area. Additionally, a large shed in the rear provides ample space for all your tools and outdoor equipment. Don't let this incredible opportunity pass you by. Experience the perfect blend of charm, comfort, and functionality in this stunning rancher!
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.
