Stunning, move-in ready cabin on 22 acres!! Potential downstairs IN-LAWS Suite!! Looking for something more unique than a white farmhouse? The aesthetic and coziness of a cypress cabin but the conveniences of modern life? Then this is your future vacation home or primary residence!! NEW METAL ROOF. NEW CARPET upstairs and REFINISHED WOOD FLOORS downstairs. Brick pavers grace the floor of the enclosed sunroom off the living room to add charm and durability. The house cannot be viewed from the main road and offers quiet and privacy. Enjoy fishing or watching sunrise/sunset from the dock on your private pond. The back deck with grilling station is an entertainer's dream with plenty of room for everyone to spread out (or to watch the deer walk around the pond!) With its circular driveway, parking will never be an issue when hosting! Want a private driveway leading out to Hickory Grove Rd? This property has the land to do that WOW! Want to bring the group inside? There is space to spread out there as well! Open concept living room with cathedral ceiling offers a loft style fourth bedroom that could easily double of crafting, office or reading space. Between the open living space, wide front porch, screened in back porch etc. there are endless options for hosting. All of the custom, built in cabinetry throughout and wood, herringbone feature wall in the dining room are sure to impress! Bedrooms are split floorplan. Set up of bedroom + butler kitchen + bath with walk through into another bedroom/office/sitting room creates the perfect layout for an IN LAW SUITE!! This is a RARE find and the opportunity to own a property that is truly a unique destination home - but yet less than 20 mins into town. Sellers offering one year HOME WARRANTY.
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.
