If you have been dreaming of a private country lifestyle without sacrificing modern conveniences, this exceptional Molino property delivers! Tucked away on almost 4.5 beautiful acres, you will find the most amazing home with a rustic charm that suits its setting perfectly! There are not many properties like this! The open floor plan features a great room that is filled with natural light, thanks to the floor to ceiling A-frame windows that look over the gorgeous property. A striking floating fireplace serves as the room’s centerpiece, adding a unique mid-century modern flair to the home's rustic character. Wait until you see the secret bookcase that opens to the primary bedroom!! When you visit try the books to open the door! Another neat feature that makes this home extra unique. There are two suites one on each side of the home. The Primary suite is HUGE with an ensuite bath complete with separate shower, jetted tub and lots of tile. The other suite is super flexible with either another extra large bedroom, bath and separate office space OR if you need a third bedroom, there is plenty of space to make one without adding to the original footprint (see floor plan). The property is truly gorgeous, full of fruit trees and surrounded by woods. Sit on your deck and watch your garden grow, bring your horses, chickens, rabbits, doggies. There are multiple storage buildings, chicken coop and more. Additional notable features included PAID OFF SOLAR PANELS, metal roof, termite contract and 2024 Central Heat and Air Unit. Come take a peek.
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.
