TONS OF INSTANT EQUITY. Other homes in the area are selling for a hundred thousand dollars more. Welcome to this 3849 sq ft Incredibly spacious 4-bedroom, 3.1 bath home! Enjoy the nicely landscaped front yard while sitting on this large front porch. Garage is extra deep for 3 cars with access to both interior and backyard! From the minute you walk in, you will see how big this home is. Hardwood floor and carpet on main floor, updated bathrooms, crown molding, designer kitchen with stainless appliances and granite counter tops, large pantry and mudroom with beautiful built-in cabinets and desk, gas fireplace focal wall, tons of natural light, and so much more. The custom kitchen is a Chef's Dream, from the Custom Cabinets, upper/under cabinet lighting, 6 burner Professional gas stove, microwave, warming drawer, huge Granite island w/breakfast bar & spacious eating area for a full-size table and chairs. A Butler's pantry with second oven and counter for a for a coffee station with more cabinet space. Spacious family room with cozy gas log fireplace that overlooks the huge, fenced yard! Incredible Master Suite w/ updated Master Bath beautifully tiled walk-in shower & 2 vanities! Additional 3 more spacious bedrooms, 2 full baths (total 3 baths upstairs), laundry room on the 2nd level. Main floor has a large foyer, dining room, living room, family room, and large powder room. Finished basement has a rec room and exercise room that could also be a 5th bedroom and loads of storage. Large yard is fenced and has a small wooden deck and large brick paver patio with firepit, and paver stacked benches. Don't miss the chance to tour this home. Needs a little TLC - BEING SOLD AS IS.
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.
