*** Motivated Seller*** Offering 1 year home warranty. Welcome to this beautiful 4-bedroom, 2.5-bathroom home nestled in the Charleston Park community! Step inside and be impressed by the gorgeous gas fireplace, stainless steel appliances, quartz countertops, and cozy sunroom--perfect for cooking and entertaining. Enjoy sunshine while staying comfortable no matter the outdoor temperature, a sunroom heated and cooled by a ductless mini-split system. Perfect for family relaxation, entertaining, or play.The Alexander floor plan features an open downstairs with a large kitchen with smooth top range, Smart Microwave and dining area that flows to the family room where you will find a stunning gas burning fireplace.The upgraded appliances in the kitchen includes a sleek Samsung refrigerator, Bosch dishwasher and undermount durable sink. The downstairs also has a half bathroom, laundry room with washer/dryer included, and coat closet. Upstairs has four bedrooms. The primary bedroom has a large walk-in closet and ensuite bath which features a separate garden tub and shower and dual vanities. The hallway bathroom has been upgraded with a beautiful tile shower and tile flooring. The fenced backyard offers just enough space for pets to enjoy the outdoors. Air conditioning system has been updated with Ecobee smart thermostat in 2022. Enjoy unlimited hot water with Rinnai tankless water heater. Providing a sense of privacy this home is located on a quiet street with a cul-de-sac. Premier Location in Dorchester District 2 School, Wescott Park featuring a premier baseball and softball facility, shopping, dining and entertainment within walking distance. Welcome Home.
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.
