Discover the perfect blend of comfort and opportunity, where thoughtful updates meet incredible potential. This beautifully maintained two-story residence offers over 2,000 square feet of versatile living space in one a desirable neighborhoods. Step inside to experience soaring vaulted ceilings and a stunning gas fireplace that anchors the living room, creating an inviting atmosphere for intimate evenings and lively gatherings. The open dining area connects to a well-appointed kitchen with sleek stainless steel appliances. The convenience of main-floor laundry and a powder room adds to the home's functionality. Retreat upstairs to your private sanctuary – a spacious primary suite complete with walk-in closet and ensuite bath. Two additional bedrooms, each with ceiling fans and beautiful flooring, offer flexibility for family, guests, or the home office you've been dreaming about. But here's where opportunity knocks: the unfinished basement with TWO egress windows is a canvas for your vision. Create that entertainment space, home gym (the current equipment stays!), or additional bedrooms. Recent updates including a new water heater, newer furnace and AC, and newer roof mean you can focus on making this house truly yours rather than worrying about major systems. Outside, your yard sides to a greenbelt. The covered front porch invites morning coffee moments, while the attached two-car garage provides convenience and storage. For qualified veterans, an incredible opportunity awaits with the potential to assume the seller's VA loan at an enviable 2.25% interest rate. Outdoor enthusiasts will love being near spectacular Barr Lake State Park, perfect for hiking, kayaking, fishing, and bird watching. You're also near the Brighton Rec Center, and Oasis Aquatic Pool. Historic downtown Brighton is 10 minutes away, where you can enjoy local shops and seasonal community events like the Harvest Fest and Festival of Lights. Schedule your showing today to see all this home offers.
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.
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