This exceptional brick-front residence presents a unique opportunity, offering a spacious layout with seven bedrooms and four and a half bathrooms. Nestled on a five-acre wooded lot, the property provides both privacy and serenity while maintaining easy access to local amenities. The interior boasts an open floor plan with large windows and seamless transitions between rooms. The kitchen, the home’s central space, offers ample workspace, abundant Cherry cabinets, Corian countertops, Stainless Steel appliances, and direct access to dining and living areas for easy entertainment or relaxation. The primary bedroom suite boasts high tray ceilings, two vanities in the main bathroom, a jacuzzi tub, and 2 spacious walk-in closets. Three additional bedrooms on the main level are equipped with walk-in closets, offering substantial storage/closet space. The fully finished lower level offers exceptional versatility with a complete second kitchen, large family room, 3 bedrooms, 2 full baths, a 3-person sauna and a private entrance—perfect for an in-law suite, au pair quarters, or independent living opportunity. Access to the backyard allows residents to enjoy views of the surrounding woodland. Additional features include an Office or Bonus Room, Spacious Patio and Front Porch, Workout Area for the fitness enthusiast, Cathedral Ceilings throughout, Gas Fireplace, Dedicated Laundry Room on the main level, and additional washer/dryer hookup downstairs. The home also boasts an Oversized 2 Car Garage with plenty of room for storage. A (36’ x 70’) pole barn built in 2015, features 14-foot ceilings, and offers extensive versatility. Plenty of room for recreational vehicles, hobbies, or even a home-based business—all with the benefit of privacy and space. The main access includes an oversized 12’ x 14’ bay door and the facility is heated via a wood stove. This Beautiful Home is situated on 5.11 acres of private wooded land and should be viewed in person to appreciate its refined details and features. Located close to amenities, dining, and major commuter routes, this exceptional property is anticipated to generate significant interest and sell swiftly.
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.
