Imagine coming home to peace and privacy every day. Located at the very end of the subdivision with no thru-traffic and backing to the woods with no neighbors behind you, this move-in-ready ranch offers a setting that instantly feels calm, and special. Step outside to the oversized deck and take in the wooded backdrop while enjoying coffee in the morning or relaxing evenings under the stars. Inside, sunlight pours through large windows and fills the open floor plan with warmth. The living room and kitchen feel bright and welcoming, enhanced by recessed lighting that gives the space a clean, updated look day and night. The kitchen is ready for real life and easy entertaining, with stainless steel appliances, a breakfast bar, and plenty of room to cook while staying connected to guests. Bamboo flooring adds style to the main living spaces, while carpeted bedrooms create cozy retreats at the end of the day. The primary suite gives you the privacy and comfort you want, complete with a walk-in closet and full bath. Every bedroom offers generous closet space, and first-floor laundry with included Energy Star washer and dryer makes daily routines simple. Need more room? The basement is over 1000 sqft and is partially finished, already offering a space for a rec room, workout area, and storage. Homes with this kind of layout, privacy, and move-in-ready condition don?t come around often. Come see it in person.
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.
