Welcome home to this beautifully Custom DiYanni-built residence located in the desired Grove Pointe community. Offering 4200 square feet of thoughtfully designed living space, this two-story home is filled with natural light, two story foyer, and a functional layout ideal for everyday living and entertaining. The main level welcomes you with an inviting formal living area and a formal dining space perfect for gatherings and special occasions. The kitchen has abundant cabinetry, a pantry, gas range, and a center island with open concept into the living room. A convenient first-floor laundry room includes storage cabinetry and direct access to the attached two-car garage. Home office or playroom adds additional living space. Upstairs, you'll find four generously sized bedrooms, a spacious loft, and well-designed bathrooms. The primary suite features a walk-in closet and a double vanity, while the second full bath also offers a dual-sink vanity to accommodate busy mornings. The home's brick exterior adds classic curb appeal, and the backyard offers a patio and mature trees, creating a private outdoor retreat. The finished basement expands your living options with additional space for entertaining, fitness, hobbies, or guests, complete with a full bathroom. Additionally, driveway parking 70X10 concrete attached to house. Storage building 10X16 for any additional storage needs. This perfect home offers space, flexibility, and comfort in a desirable neighborhood setting ready for its next chapter.
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.