Beautifully maintained and thoughtfully upgraded, this spacious bi-level home offers comfort, versatility, and exceptional outdoor amenities on approximately 0.36 acres. Boasting roughly 2,400 square feet of gross living area (excluding the inviting screened-in porch), the home features a functional and flexible layout with 4 bedrooms and 2.5 bathrooms. A standout feature of this property is the included adjacent lot at 53 Georgetown Road (approx. 0.22 acres, 60’ x 160’), offered for just $1.00 - providing valuable added flexibility and potential. Septic certification has already been achieved, and the seller has successfully passed both the Certificate of Occupancy and Uniform Fire Safety inspections, helping ensure a smoother path to closing, while also including a one-year home warranty for added buyer assurance. The home’s upstairs features durable strand-woven bamboo flooring (an ideal choice for pet owners) as well as three bedrooms, including a primary suite with a full ensuite bath, along with two additional bedrooms and a second full bathroom. The kitchen includes its appliances, offering a move-in ready setup. The lower level expands the home’s versatility with a fourth bedroom, a half bath, and elegant porcelain tile flooring throughout. A spacious bonus room with a built-in bar, full-size refrigerator, and direct backyard access creates the perfect setting for entertaining. Three fireplaces throughout the home - including electric and decorative upstairs and a gas fireplace downstairs - add warmth and ambiance. Outdoors, the backyard offers a spacious and inviting setting. A fully fenced backyard offers privacy, while the 11’-8” x 23’-5” screened-in porch provides the perfect setting for relaxing, complete with enclosed storage underneath. Outdoor hobbyists will love the home’s two paver patio areas (approximately 402 sq ft and 194 sq ft), the 14’ x 24’ heated and electrified workshop and the 8’ x 8’ greenhouse. This property truly combines comfort, functionality, and value - don’t miss the opportunity to make it yours!
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.
