Welcome to a home that truly stands apart. Full of character, warmth, and thoughtful upgrades, this one-of-a-kind 4-bedroom, 2 full bath, 1 half bath home offers 2,738 square feet of functionality and personality that is difficult to replicate. If you are searching for a home with charm, flexibility, storage, and a private backyard retreat, this property delivers. Inside, you find custom built-ins, a beautiful barn door feature, ceramic wood-look tile flooring, natural quartz countertops throughout the home, including the primary bathroom and bathtub, and updated lighting with WiFi-enabled dual-function color changing capabilities. The sellers have also completely updated the electrical outlets and switches throughout the home while adding insulation in the attic and portions of the upstairs interior walls for improved comfort and efficiency. The primary suite offers a unique connected bonus room with its own mini split system and private outdoor access, creating the perfect space for a home office, workout room, nursery, reading lounge, hobby space, or private retreat. One of the standout features of this home is the incredible amount of storage, including hidden storage areas built into closets throughout the property. The thoughtfully designed kitchen includes a double oven, and the secondary bath features a functional Jack-and-Jill configuration. Step outside into your own backyard oasis featuring a resurfaced pool with a new pump and filter, plus an existing gas line ready for a heating. The backyard has been enhanced with French drains, a retaining wall, and a concrete slab for boat/trailer parking. No HOA! Additional improvements done in the last few years include replaced west-side windows, roof, gutters, exterior doors, garage door, exterior wood/siding, and the downstairs HVAC unit. Topped off with a beautiful cherry tree in the front yard, this home blends comfort, character, upgrades, and individuality in a way that is becoming increasingly hard to find.
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.
