Welcome home to this beautifully maintained 4-bedroom, 2.5-bath home in the desirable Paris Ridge neighborhood within Caledonia Schools! finishing the basement would give you a 3000sft home. The main floor offers a bright, open-concept layout with a spacious living room, office, dining area, and modern kitchen featuring an island and plenty of cabinet space--perfect for family gatherings and entertaining. Upstairs you'll find three comfortable bedrooms including a large primary suite with walk-in closet and private bath. The finished lower level adds a 4th bedroom and additional living space, ideal for guests, teens, or a playroom. Enjoy evenings on the back deck overlooking a generous yard with room to play and relax. Located on a quiet street close to parks, schools, and shopping, this home combines comfort, convenience, and community for today's busy family! Basement is mostly finished. PLEASE SEE DOCUMENTS FOR A LIST OF THINGS DONE TO THE HOME THAT YOU AREN'T ABLE TO SEE.Home & Basement Features / Upgrades: *Water Softener: Owned *Basement Insulation: Original R10; added R12 foam board to walls = R22 *Basement Subfloor: Floating Amvic subfloor R7; Amvic subfloor in basement bath for tile *Basement Storage / Safety: Insulated small room under basement stairs for storage or tornado shelter *Lighting & Wiring: LED lighting in basement; all theater room speaker wiring hidden in tubing; hidden HDMI cables for theater room and first-floor living room TV *Deck: Over-built with 6x6 posts, joists 1' on center, waterproof joist tape; 5' wide staircase; everything stained in summer *Trees & Landscaping: 3 large white pines, 3 different types of maples, 1 ginkgo tree, 1 Japanese maple in front window (bright pink in fall) *Exterior Landscaping: Boulder walls for look-out basement windows; cedar mulch covering entire property *Garage: Walls and doors insulated *Custom Storage: Master bedroom closet and pantry shelving with stand-up freezer *Outdoor Amenities: Sandbox under deck; under-deck storage boxes for toys/lawn chai
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.
