Former model home with distinctive custom features throughout. The formal interior has beautifully enhanced reconditioned woodwork, adding warmth and character to the space. A snuggly sunroom offers the perfect retreat to relax and unwind, with direct access to a private open patio enclosed by a privacy fence. The inviting living room features a gas fireplace with an elegant marble surround, beautifully showcasing a large plate-glass mirror above. The combined living and dining area features a vaulted ceiling in the living room that enhances the sense of openness and spaciousness. The galley kitchen offers function, featuring a convenient breakfast bar, newer stainless steel appliances, and a tray ceiling with accent lighting. The kitchen design provides ample workspace while maintaining an open connection to the main living areas. The upper level offers three bedrooms, one currently being used as a home office. This is where the fun begins! The primary bedroom suite flows seamlessly into a spacious ensuite bath featuring double sinks, expansive mirrors, and glamour style lighting-creating a bright and inviting retreat. The primary closet features a dedicated alcove with space for over 50 pairs of shoes-an organizer's dream. In addition, the 17x7 finished attic area is lined on both sides with double hanging rods and shelving, providing exceptional storage capacity. A charming nook of cubbies offers the perfect spot for accessories, makeup, and all the fun extras. The crawl space has been professionally encapsulated and includes a sump pump, offering added protection against moisture and contributing to the home's overall efficiency and structural integrity. Last but not least, the two-car garage is both heated and cooled for year-round comfort. Within the garage, a private office/studio space is beautifully encased by glass doors and also offers its own heating and cooling-making it ideal for remote work, creative projects, or a quiet retreat.
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.
