Welcome to this beautifully updated 3-bedroom, 2.5-bath Colonial in the heart of highly sought-after Oakwood. Perfectly positioned just two blocks from Orchardly Park and within walking distance to the Shops of Oakwood, this home blends timeless character with modern, high-end upgrades throughout. Step inside to find a bright, functional layout filled with natural light, fresh interior paint, and updated lighting fixtures. The completely renovated kitchen is a standout, featuring custom epoxy countertops, an elegant Italian marble backsplash, and a full suite of Samsung Bespoke smart appliances. A butler’s pantry with butcher block countertops adds both style and functionality—perfect for entertaining or everyday living. The home’s historic Colonial charm is preserved while offering modern comfort, including renovated bathrooms with updated fixtures and finishes, a cozy gas fireplace, and thoughtful upgrades throughout. Outdoors, the property truly shines. Enjoy a private, fully fenced yard with premium low-maintenance turf, an updated deck with hot tub, and a pergola-covered living space designed for year-round enjoyment. The outdoor kitchen is built to impress with a built-in grill, kegerator, and refrigerator—ideal for hosting. Govee app-controlled smart lighting elevates the entire outdoor experience. Additional highlights include an EV charger, HVAC system (2017), water heater (2021, still under warranty), vinyl windows with warranty through 2035, and a durable 50-year shingle roof (post-2005). With strong curb appeal, a move-in ready condition, and a location that’s hard to beat, this home offers the perfect combination of classic Oakwood charm and modern upgrades. Fireplace used but not warranted
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.
