The moment you buy this home your equity has possibly already increased. The brand new homes being built in this community will be sold for about $800,000 to the low $1,000,000 price range. That being said, Welcome home! As you step through the front door, of your new home you’re greeted by a charming foyer that sets the tone for the rest of the house. To your left, the cozy downstairs bedroom beckons, featuring warm natural light and a private bathroom, perfect for guests or family members seeking convenience. Go to the right, you enter an inviting open-concept space where the kitchen features are a home chefs dream with the GE Profile stainless steel appliances, upgraded backsplash, granite countertops, and a generous island perfect for entertaining. The kitchen seamlessly flows through the dinning area and to the living room, imagine hosting gatherings in this vibrant area. The living room, with its large windows invites the outdoors in, creating a bright and airy atmosphere. As you ascend the staircase, you’re led to the second floor, where three additional bedrooms await. To your right, the primary bedroom offers a serene retreat, complete with its own luxurious bathroom, ensuring privacy and comfort. The two other bedrooms are perfect for family or guests, each offering charming nooks and inviting spaces. From two of these upstairs bedrooms, is a glimpse of the majestic mountains peeking through providing a picturesque backdrop that enhances the home’s tranquility. As you make your way back downstairs, step outside to discover a beautifully designed backyard oasis. The custom outdoor area features a blend of concrete and lush artifical grass, perfect for summer barbecues or quiet moments spent soaking in the sun. As a plus the back yard is very low maintenance. Beyond your private sanctuary, this home is part of a vibrant community. You have full access to The Farmhouse, a private clubhouse featuring a pool/spa, fitness center, fire pit and BBQ area. There is a community gardens, walking trails, parks, a playground, and a sports park--perfect for active, outdoor lifestyles. It also has community garden that offers a chance to connect with nature, while playgrounds and scenic walking paths provide endless opportunities for outdoor adventures. Additional highlights includes low cost Solar for energy efficiency and style. This property is not just a home; it's a lifestyle waiting for you to embrace. Come and experience all that it has to offer!
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.
