Welcome home to this classic Colonial, beautifully set on a generous 0.46-acre lot in the sought-after Colony Woods community—offering no HOA and convenient access to major commuting routes. A charming wraparound front porch creates a warm and inviting first impression. This 4-bedroom, 2.5-bath home with a 2-car garage offers over 3,000 square feet of finished living space and a flexible, functional layout with generously sized rooms throughout. The current owners have converted the formal dining room into a main-level laundry area; however, existing hookups in the lower level provide an easy option to relocate it back to its original use if desired. The partially finished basement features a connecting stairway, an unfinished workshop area complete with two worktables and ample shelving, plus additional space ideal for hobbies, storage, or future expansion. Outdoors, a newly installed privacy fence encloses most of the yard, while the property extends beyond the fence line—offering even more usable space. The lot strikes a perfect balance between mature trees and open areas, with selective clearing already completed to enhance both usability and privacy. The backyard also includes a new storage shed and a wood-burning fire pit, creating a great setting for outdoor enjoyment. With the removal of an above-ground pool and trampoline, there is prime space and opportunity to further enhance the landscaping to suit your vision. Significant updates have already been completed, including new windows throughout, remodeled bathrooms, and an updated kitchen featuring a new dishwasher, lighting, and faucet. Additional improvements include refinished kitchen and hallway flooring, new LVP flooring in the finished basement, an updated basement railing, a newer hot water heater, and improved drainage. A refrigerator, freezer, and additional shelving in the garage will convey. While the home does require some TLC—including minor drywall repairs, fresh paint, potential upper-level carpet replacement, and refinishing of select hardwood floors—it offers strong bones, solid systems, and outstanding potential. Thoughtfully priced and being sold strictly as-is, this is a fantastic opportunity to personalize a well-maintained home and build equity in a desirable setting. Schedule your tour today—this one won’t last!
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.
