The 2020 concrete home is fabulous, but let's start with this amazing back yard! No expense was spared in this thoughtfully designed outdoor living space. A beautiful paver walkway follows the natural slope of the terrain, creating seamless patio areas with ample room for entertaining, dining, and relaxing. This outdoor retreat also features built in planters, a durable hardtop gazebo perfect for year-round enjoyment, and a covered lanai with room for your grills. All of this, plus a shed, still leaves plenty of space for football, volleyball, and room to add a pool. A vinyl fence is already in place, providing privacy and containment for pets and the littles. Then step inside into this huge open plan where you can entertain effortlessly. Your kitchen boasts elegant granite countertops, roll-out shelves, so much counter space where everyone can cook together, an island for all of the delicious dishes to be displayed during fun gatherings, and let's not forget the walk in closet pantry. The kitchen opens to the expansive living area and a dining space with sliders to the lanai. The primary bedroom features a large walk in closet. And the primary bathroom has a raised vanity with double sinks, a step in shower, a spacious linen closet, and a separate water closet with a top of the line heated bidet seat that you didn't know you wanted. This split plan has the 3 guest bedrooms on the other side of the home, all with spacious closets. The guest bathroom features a raised vanity with double sinks, a tub/shower combo, and another heated bidet seat. Space abounds in this home with all of the roomy bedrooms and several large closets throughout the home for plenty of storage. Important features you won’t have to add include: rain gutters, a shed, instant hot water system, a security system with a camera, a weather station, and plant bubblers. A well maintained home with regular maintenance on the AC and dryer vent, and the builder warranty is in effect through 2030. All while only minutes from dining and shopping This home is offered turn-key negotiable.
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.
