Tucked away on a quiet street, this charming Cape Cod offers comfort, character, and inviting living spaces both inside and out. A long driveway provides plenty of off-street parking, and the home’s welcoming curb appeal sets the tone for what awaits inside. The sun-filled main living areas are warm and inviting, now enhanced by newer luxury vinyl plank flooring that flows throughout, creating a cohesive and stylish look. The living room features an electric fireplace as a cozy focal point and a ceiling fan for added comfort. Abundant natural light fills the home with a bright, cheerful atmosphere. Enjoy the convenience of a beautifully updated kitchen, thoughtfully designed for both everyday living and casual gatherings. Featuring updated appliances, a sunny bay window, and space for a dining table, it’s the perfect setting for everything from morning coffee to relaxed dinners at home. The bright, functional layout makes it a natural and welcoming gathering place. The main level includes two bedrooms and an updated full bathroom, offering convenient one-level living with modern touches. The finished upper level provides an additional bedroom that could also serve as a private home office, guest space, or flexible bonus room. Downstairs, the finished basement expands the home’s versatility with a built-in bar, laundry area, and excellent space for storage, hobbies, or recreation. Whether you need extra room for entertaining or practical workspace potential, the lower level offers flexibility to suit various needs. One of the standout features of this property is the wonderful screened and enclosed porch located just off the back of the home. Overlooking the deep fenced backyard, this peaceful retreat is perfect for morning coffee, evening unwinding, or entertaining guests while enjoying the outdoors in comfort. The backyard itself offers exceptional space with plenty of room for gardening, play, recreation, or creating your own private outdoor oasis, complete with a fire pit for cozy gatherings under the stars. Blending timeless charm with modern updates—including a newer kitchen, updated bathroom, and newer luxury vinyl plank flooring throughout—this delightful Cape Cod is a wonderful opportunity to enjoy a home full of warmth, style, and everyday functionality in a peaceful neighborhood setting.
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.
