Access to property is by scheduled appointment only. Seller if offering 4* BAC. Some photos have been edited to remove furniture. ** One or more photo(s) has been virtually staged. ** Built in 1999 ** No HOA ** 3 bedrooms and 2 full baths on one level ** 1,240 square feet ** Attached garage and fenced yard. 465 Fleming Ave presents the kind of fundamentals that tend to matter most to buyers who want a straightforward home with a simple ownership profile: a one story layout, usable outdoor space, and a core build described as block, concrete, and stucco over a slab foundation with a shingle roof. The available listing information does not itemize a specific set of recent renovations, so the right way to position this home is as a clean baseline with practical components already in place and room to personalize over time. Interior details show all bedrooms and both bathrooms on the first level, supporting an easy daily routine and a layout that works for a primary residence or a long term hold. Cooling is listed as central air, and the kitchen includes a dishwasher, range, and refrigerator, which keeps the move in path direct. Outside, the lot provides real backyard utility with fencing already in place, and parking is handled with an attached garage plus driveway space. Utilities are listed as public water with a septic tank, a detail buyers often weigh when comparing operating costs and maintenance responsibilities.
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.
