Some mornings you just don't want to leave. And at 502 Waterford Road, that feeling makes complete sense. Settle into the custom built-in banquette beneath the kitchen window with your coffee, look out into a two-story great room dressed with floor-to-ceiling curtains, and the day ahead suddenly feels very manageable. The great room is the heart of the main level. Soaring, fireplace-anchored, and finished with the kind of easy elegance that works for a quiet Tuesday just as well as a full house on a Saturday night. Nine-foot ceilings run the full main and upper floors, and a custom board and batten accent wall in the dining room brings in a modern touch that sits beautifully against the home's classic character. There's also a bedroom and full bath on the main level — a genuinely useful feature whether you need a dedicated home office, a guest space, or both. Upstairs, the primary suite has been quietly elevated beyond what you'd expect. Thoughtful updates include previously hidden eave storage that's now fully accessible. It's the kind of detail that makes daily life just a little more effortless. The whole home carries that same energy: meticulously maintained, carefully updated, and in a condition that stands out immediately. Head down to the terrace level and the home shifts gears in the best way. Another custom board and batten accent wall, a bar area ready for any occasion, a bedroom and full bath, and direct access to the lower rear deck make this level a destination in its own right. The upper deck off the main level gives you a second outdoor space that's perfect for quieter moments, with morning air, evening wind-down, or anything in between. And out front, a classic porch ties it all together with a welcoming, well-kept presence. Steps from Jennie Drake Park and well-connected to everything Collier Heights and Atlanta's westside have to offer, this home has been loved in a way that's immediately apparent. Come see it, as some homes just make sense the moment you walk through the door.
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.
