4.75% Assumable FHA Interest Rate! Welcome to a home that offers the perfect blend of space, flexibility, and opportunity. Situated on a desirable corner lot, this stunning two-story residence enjoys enhanced curb appeal, additional privacy, and a bright, open feel throughout. Thoughtfully designed with modern living in mind, it features soaring two-story ceilings, an abundance of natural light, and an open-concept floor plan that creates an inviting atmosphere from the moment you step inside. The main level serves as the heart of the home, where the spacious living room seamlessly connects to the dining area and kitchen, creating the ideal setting for everyday living, entertaining, and making lasting memories. Expansive windows fill the space with natural light, highlighting the home's airy and welcoming design. Upstairs, you'll find three generously sized bedrooms, including a private primary suite complete with an ensuite bathroom. An additional full bathroom and conveniently located laundry room add comfort and functionality to the upper level. What truly sets this property apart is the fully finished basement apartment with a private exterior entrance. Complete with one bedroom, a full bathroom, kitchen, living room, and its own laundry area, this exceptional space offers incredible flexibility and value. Whether you're looking to generate rental income to help offset your monthly mortgage payment, accommodate multigenerational living, create a comfortable space for extended family and guests, or simply enjoy additional room to spread out, this lower-level suite provides endless possibilities. Adding to the home's appeal are solar panels, helping reduce utility costs while providing long-term energy savings and increased efficiency. It's a smart investment that benefits both your wallet and the environment. The corner lot location further enhances the property's appeal by offering a more open feel, additional outdoor space, and increased natural light throughout the home. Combined with the versatile floor plan, energy-efficient features, and income-producing potential, this is a rare opportunity to own a home that adapts to your needs both today and in the future. Conveniently located near shopping, dining, parks, schools, and major commuter routes, this home delivers the perfect combination of comfort, functionality, and investment potential. Whether you're searching for a primary residence, a house hack opportunity, an investment property, or a home designed for multigenerational living, this property checks all the boxes. Homes featuring a separate-entry basement apartment, owned solar panels, and flexible living options are increasingly difficult to find. Don't miss your opportunity to experience everything this exceptional property has to offer.
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.
