Welcome to the established community of Watersbend, where this popular Bloomfield Home Dewberry floorplan offers the perfect blend of space, comfort, and functionality for a growing family. Situated on a quiet cul-de-sac street, this impressive home features 5 bedrooms, multiple living spaces, a 2.5-car garage, and an enormous backyard—perfect for everyday living and entertaining alike. As you enter, you’re welcomed by a bright formal living space filled with natural light from numerous windows. Whether used as a formal sitting area or dining room, this room is ready to fit your lifestyle. Continue into the spacious family room, where a stunning floor-to-ceiling stone wood-burning fireplace creates a warm and inviting centerpiece. The heart of the home is the massive kitchen, designed with gathering in mind. Featuring a built-in gas cooktop, built-in oven and microwave, abundant cabinetry, and a huge walk-in pantry, this kitchen is both beautiful and functional. A convenient half bath for guests add to the thoughtful layout. The primary suite is privately located downstairs and offers a peaceful retreat complete with a charming window bench perfect for reading and relaxing. The en-suite bathroom features a garden tub, walk-in shower with bench seating, and plenty of space to unwind. Upstairs, you’ll find a large gameroom plus additional space ideal for a home office or study area. Four oversized bedrooms are located upstairs, each with walk-in closets. One full hallway bathroom serves the secondary bedrooms, while two bedrooms share a convenient Jack-and-Jill bathroom. Step outside and enjoy evenings under the covered back patio while the kids and pets play freely in the expansive backyard. Watersbend residents enjoy fantastic community amenities including two resort-style pools, soccer fields, jogging trails, playgrounds, and an on-site elementary school. This home truly offers the space, layout, and community amenities today’s families are searching for.
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.
