Set gracefully on just over an acre in Fishing Creek Estates, this stunning modern farmhouse is where refined design meets everyday comfort. From the moment you step onto the inviting front porch, there is a sense of quiet sophistication. Inside natural light fills the home. The foyer flanked to your right by a beautiful dining room(currently used as an office) accented with modern farmhouse lighting and to your left a versatile bonus room ready to serve as a whatever your life needs most: a cozy library, playroom, yoga room or a creative space. From there you'll continue past the lovely wood and iron staircase into the heart of the home featuring a beautifully designed kitchen with a huge island, an an abundance of rich dark wood cabinetry and flowing counter space. Looking out over the back yard is a thoughtfully designed expanded breakfast nook, that invites long conversations and effortless entertaining. The space flows seamlessly into the family room, with a gas fireplace that creates a warm focal point for gathering. A charming coffee nook, a generous pantry, a half bath, and convenient garage access enhance the main level's functionality. Upstairs, four well-proportioned bedrooms, offer comfort and retreat. The primary suite is a serene escape, complete with a large bathroom and double vanities, and an expansive walk-in closet. An upstairs laundry room adds an elevated level of everyday convenience. The three other bedrooms are spacious as well, with a good amount of closet space in each. Finishing out the second floor is another full bath and linen closet. A large unfinished basement offers a ton of storage to suit your needs, or endless possibilities for customization: perhaps a home theater, a gym, or an indoor golf simulator. Additional highlights include an oversized 2-3 car garage, and a lush tree lined backyard that offers space and tranquility- a rare combination so close to modern amenities. This home offers more than square footage- it offers a lifestyle defined by style and elegance. It's a place to settle in, spread out and create lasting memories. OPEN HOUSE this Saturday, February 21st, 1-3pm.
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.
